SmartWorks Programs

The EnergyWorks program is an ongoing partnership with the Columbus-Franklin County Finance Authority (CFFA) to capitalize the Columbus Region Energy Fund, which provides loan financing to Franklin County businesses and nonprofit organizations for cost-effective, energy efficiency improvements. EnergyWorks is designed to increase the energy efficiency of both existing and new facilities, resulting in lower energy costs, fewer carbon emissions, and economic growth in Franklin County.

Eligible Activities

Eligible activities may include, but are not limited to:

Energy efficiency retrofits to existing buildings, including:

• Lighting
• Energy management systems and controls
• High efficiency HVAC
• Other energy efficiency improvements

Energy projects and distribution technologies:

• Waste energy recovery: power generation, absorption chillers, process reviews
• Fuel cells
• Renewable power generation: methane gas, biomass, wind, solar, and photovoltaics
• Other distribution technologies

Potential Uses

Industrial / Manufacturing
The Columbus Region Energy Fund is designed to address facility needs by using long-term cost saving strategies to pay for large facility upgrades. A comprehensive sustainability plan can be developed and implemented with the long-term goal of reducing energy demands. The Energy Fund can be your leading source of innovative facility, plant, utility, and energy infrastructure solutions that reduce operating costs, enhance plant productivity, demonstrate green strategies, and improve the overall workplace environment and safety.

Commercial / Retail
Commercial/retail buildings account for up to 75% of energy used and 20% of greenhouse gas emissions. The Columbus Region Energy Fund can improve your bottom line while enhancing the value of your buildings by making them more efficient, comfortable, and sustainable. The Energy Fund can finance projects that will help your buildings and businesses achieve sustainability goals, improve net operating income, improve overall workplace environments, and improve marketability and tenant retention.

Government / Municipalities
The Columbus Region Energy Fund can help build stronger and smarter communities and save taxpayer funding in the process, The Energy Fund can help implement a variety of sustainable development and infrastructure strategies - from new green buildings, deep retrofits, and renewable energy to utility and infrastructure improvements.

Educational / K-12 / Colleges & Universities
A comfortable, healthy, and safe environment can enhance student performance and help attract and retain the best educators. The Columbus Region Energy Fund can help school systems and universities implement energy efficiency solutions that will help optimize staff productivity and facility operations. The Energy Fund can provide budget solutions through increased energy savings and lower facility operating costs.

Healthcare
Clinical, financial, and operational outcomes are imperative to healthcare facilities. The Columbus Region Energy Fund can finance energy efficiency plans that will improve the overall workplace environment and enhance the patient experience. The Energy Fund offers innovative finance structures for energy efficiency project planning, management, and technology upgrades.

Loan Parameters

• Loan Amounts: Range from $100,000 to $5 million projects; potential for up to 100% of the total project cost
• Interest Rate: Fixed rates, determined by the term of the loan; (Ex. A 15 year term can assume around 4.5%)
• Loan Term: Up to 15 year terms
• PACE Assessment: If the project is located within an Energy Special Improvement District, the loan may be tied to the property tax bill, rather than the borrower’s credit

Recent Projects

PNC Plaza - City of Columbus
In March of 2016, the Franklin County Commissioners announced the PNC Plaza EnergyWorks project in the City of Columbus. EnergyWorks provided a $400,000 PACE loan to assist with more than $3.3 million in energy efficiency upgrades to the 24 story PNC Plaza. The project includes green improvements to the 360,000 sq.ft. building’s roof, lighting, and water supply and will provide energy savings of about 15%, reducing greenhouse gas emissions by more than 5,000 tons annually

How to Access these Funds

To learn more about EnergyWorks and the Columbus Region Energy Fund, visit the Columbus-Franklin County Finance Authority Energy Fund Site, or contact the Columbus-Franklin County Finance Authority at info@columbusfinance.org or (614) 429-0177.

The InfrastructureWorks program is designed to encourage and accelerate public sector investment in infrastructure projects that result in economic growth and job creation. The program functions as a revolving loan fund, the Franklin County Infrastructure Bank (FCIB), and provides timely, flexible, and below market rate loan financing for economic development projects within Franklin County.

Eligible Borrowers

The Franklin County Infrastructure Bank is limited to cities, villages, and townships within Franklin County. Only economic development projects that are located within Franklin County are eligible.

Loan Parameters

• Loan Amounts: Capped at 50% of the total cost of the project, up to $1,000,000
• Interest Rate: 25 basis points below Municipal Market Index, established quarterly with the opportunity to relock the rate at the time of closing
• Loan Term: 1 year to 10 year term loans
• Repayment: For loans with a 5 year term or longer, interest may be deferred for the first 12 months after closing
• Low fees: A loan origination fee, determined by the size of the loan and favorable compared to other sources

Eligible Infrastructure

Any publicly owned infrastructure that is directly related to and required to facilitate an economic development project is eligible for financing. Economic development projects are those that will encourage economic growth, create and/or retain jobs, and/or increase sales tax revenues. A list of eligible infrastructure projects includes, but is not limited to, the following:

• Transportation Infrastructure: public roads, bridges, tunnels, drainage, guardrails, protective structures, rail, transit, pedestrian/bicycle paths, and aviation;
• Traditional Energy Infrastructure: electricity-related and/or natural gas-related infrastructure (grids, substations, pipelines, storage/distribution terminals, etc);
• Energy Infrastructure: Infrastructure related to wind, solar, geothermal, biomass, and
• Water: clean-water, storm-water, waste-water, and/or conservation infrastructure;
• Telecommunications: broadband, fiber, and transmission infrastructure.

Collateral

The FCIB may request any of the following as collateral/security for financed projects:

• Pledge of identified tax revenues, non-tax revenues, fees, tolls, or other revenue
• Letter of Credit or cash reserve

Application Process and Project Selection

Project applications will be accepted on a continuous basis, beginning January 1st of each year until funds for that Program Year have been exhausted. Eligible borrowers must have a pre-application meeting with Franklin County Economic Development and Planning staff prior to submitting an application. The borrowers and projects will be analyzed by an independent financial advisor for credit-worthiness. The projects will then be evaluated by an independent Loan Advisory Board, which will result in loans being recommended for approval by the Franklin County Board of Commissioners.

Recent Projects

Village of Marble Cliff - Cardigan Avenue
In October of 2015, the Franklin County Commissioners awarded the Village of Marble Cliff a $125,000 FCIB loan (1.7% over 10 years) to assist in financing a $449,825 water facility improvement project along Dublin Road and Cardigan Avenue. The project is part of a phased redevelopment of the Cardigan Avenue Commercial and Industrial Park within the village and will leverage recent private investments made by Connect Realty, LLC, Mid-Ohio Contracting, Inc., and The Commissary, a food commissary and local food hub. Over the next three years, the village estimates that 40 full-time equivalent jobs will be created. Read the Press Release.

City of Upper Arlington - Municipal Fiber Optic Network
In October of 2015, the Franklin County Commissioners awarded the City of Upper Arlington a $1,000,000 FCIB loan (1.7% over 10 years) to assist in financing the construction of a $2,566,871 Fiber Optic Network within the municipal boundaries. The goal of the project is to attract new, long-term investment opportunities by allowing the city to provide a “5th utility”. In the near-term, the project will benefit health and information science related projects within the city, including a new Ohio State University Medical Office project as well as continued investment and job creation from National Church Residences. Over the next three years, the city estimates that 300 full-time equivalent jobs will be created. Read the Press Release.

City of Whitehall - North Hamilton Road
In October of 2015, the Franklin County Commissioners awarded the City of Whitehall a $550,000 FCIB loan (1.7% over 10 years) to assist in financing a $2,831,005 street improvement project along North Hamilton Road. The North Hamilton Road gateway is one of Whitehall’s major entrances, as well as a major employment and retail corridor. The project will support expansion efforts of existing businesses along North Hamilton Road, as well as enhance access to the city’s Airport South Commerce and Tech Park, which is currently undergoing redevelopment. Over the next three years, the city estimates that 50 full-time equivalent jobs will be created. Read the Press Release.

City of Grandview Heights - Goodale Boulevard
In May of 2016, the Franklin County Commissioners awarded the City of Grandview Heights a $1,000,000 FCIB loan (1.9% over 10 years) to assist in financing a $2,775,320 street improvement project along Goodale Boulevard. The project is the third phase of an overall redevelopment of Goodale Boulevard and will support expansion efforts of Health South, Berardi and Partners, and American Electric Power in addition to facilitating the egress and ingress of approximately 3,000 Nationwide Insurance employees locating at the adjacent Grandview Yard development. Over the next 3 years, the city estimates that 247 full-time equivalent jobs will be created. Read the Press Release.

How to Submit the Application

1. Contact Franklin County Economic Development and Planning at 614-525-5244 to discuss the project and schedule a pre-application meeting.
2. Save the application to your computer (right click on the application link and click “Save As”)
3. Open the downloaded application, fill out the form, and save your changes
4. Email the application, along with supporting documentation, to emanueltorres@franklincountyohio.gov