Fed bonds could aid Fultz project

Greenslade

gets regional

funding support

By BECKY BROOKS

Enterprise Editor

clydenews@bizwoh.rr.com

Clydescope Economic Development Director Adam Greenslade has knitted together a tentative bond program that could save millions of dollars in the long-term funding for a $18 million biomass, energy generating plant slated for construction in Clyde by 2011.

Counties throughout Ohio were granted Recovery Zone Economic Development Bonds and Facility Bonds as part of the federal governments stimulus package.

"It's not like were getting actually a grant," Greenslade explained Friday, pointing out some counties and media outlets have not understood this part of the stimulus program.

"The (Recovery Zone) economic development bonds were for government-type projects and infrastrusture ... the facility bonds are bonds that the county can act as a conduit to private enterprise," he clarified.

The main purpose of the latter bonds is to allow private business to sell bonds at a low interest rate, but the private entity would still have to repay the bond cost.

See more of this article in the Feb. 3 issue of The Clyde Enterprise.