OAQDA Approves more than $24 million for Air Quality Improvement Projects in Montgomery and Hamilton Counties

FOR IMMEDIATE RELEASE
March 14, 2025

Media Contact: Katie Lundy
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614-353-6476

OAQDA Approves more than $24 million for Air Quality Improvement Projects in Montgomery and Hamilton Counties

OAQDA projects to revitalize underutilized properties and promote local economic growth

COLUMBUS - The Ohio Air Quality Development Authority (OAQDA) recently approved more than $24 million in bond financing at its March board meeting to support two Ohio projects aimed at improving air quality, revitalizing underutilized properties and increasing economic benefits to local communities.

The projects involve the installation of energy efficiency and solar technologies for two businesses, including 2443 Auburn, LLC, a 56-unit multi-family residential development in Cincinnati, and Trojon Real Estate, LLC, a commercial leasing facility in West Carrollton. Economic benefits will be realized in the community through five local permanent jobs and related construction jobs. Business tenants of Trojon Real Estate, LLC and housing tenants of 2443 Auburn, LLC are expected to benefit from lower utility bills with the cost savings achieved from the OAQDA-financed projects.

"These projects reflect OAQDA's commitment to strengthening Ohio communities by improving economic opportunities for companies and residents while achieving cleaner air," said Christina O'Keeffe, executive director of OAQDA. "The cost savings from these air quality improvements in both buildings will directly benefit tenants, making it more affordable to live and operate small businesses as part of local economic development strategies for these revitalized spaces."

Project approved through the Clean Air Improvement Program (CAIP):

• 2443 Auburn, LLC has been approved for up to $24 million in bond financing to support energy-efficient upgrades for an urban infill 56-unit multi-family residential apartment project in Cincinnati's historic district. The project will include improved insulation, high-efficiency HVAC, heat pump domestic water heaters, LED lighting. The development is projected to reduce energy usage by 53.7% and will create two full-time and one part-time job.

Project approved through the Small Business Assistance Program:

• Trojon Real Estate, LLC has been approved for up to $219,000 in bond financing to install a 35-kW solar system with a reinforced energy-efficient roof at its facility in West Carrollton. The facility leases commercial space to small businesses. The project is expected to generate approximately 46,100 kWh annually and reduce operating costs for the small business tenants leasing space in the facility. The financing is secured by OAQDA as part of its bonds using Commercial Property Assessed Clean Energy (C-PACE) at the approval of the City of West Carrollton. The project will sustain two full-time jobs.

OAQDA remains committed to assisting Ohio businesses and local governments in their efforts to foster economic growth and healthier communities. The CAIP and Small Business Assistance Program provide valuable financial assistance, enabling organizations to adopt better air quality strategies in Ohio. To learn more about OAQDA's programs visit ohioairquality.ohio.gov.

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The Ohio Air Quality Development Authority (OAQDA) is a non-regulatory government agency working to position Ohio as a leader in harmonizing a strong economy and a healthy environment. Since its creation in 1970, OAQDA has worked to improve air quality by supporting businesses, creating jobs and improving communities while enhancing the health and safety of all Ohioans. To date, OAQDA has awarded more than $6 billion to finance air quality projects. For more information about OAQDA and its services, please visit ohioairquality.org.