Thursday, February 22, 2007

Lake County to start its own port authority

February 22, 2007
Plain Dealer

Lake County commissioners voted to establish a port authority to promote economic development in the county.

Port authorities have the ability to sell bonds to raise money for economic development projects. Cuyahoga County's port authority, for example, has been involved in many development projects. Most recently, it has worked with the Cleveland Cavaliers on a $20 million plan to build a new practice facility for the team in Independence.

Lake County's port authority will be governed by seven member board appointed by the county commissioners. It will not be allowed to fund economic development projects that involve moving businesses from one Lake County community to another.


This can be a good thing for Lake County. Let's just hope they are not corrupt as Cuyahoga's Port Authority.

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