Yesterday, Greater Ohio Policy Center (GOPC) testified to the Senate Finance Committee in support of our ongoing efforts to provide a dedicated source of funding to the Clean Ohio Revitalization Fund, commonly referred to a CORF.
Ohio was once a national leader in brownfield redevelopment through the Clean Ohio Revitalization Fund (CORF). CORF, which was approved by Ohio voters in 2000 and renewed in 2008, provided $400 million through liquor-based bonded funds to communities across Ohio to revitalize brownfield sites. The creation of JobsOhio transferred Ohio’s state-owned liquor agency to the private economic development agency, and with it, the bulk of Ohio’s brownfield funding.
GOPCs proposal would allocate the excess liquor profits (referred to as deferred payments) returned to the state from JobsOhio as the source of funding for CORF. This proposal mirrors another proposal which is currently pending in the Ohio Senate (Senate Bill 84) and the Ohio House (House Bill 143).
As the original CORF program was funded by the state liquor sales, GOPC recommends the legislature allocate the returned liquor profits to fund the CORF program. By providing a dedicated, sustained funding source to CORF, Ohio’s communities will have access to transformative dollars – aimed at revitalizing blight to spark investments in downtowns, housing, and new business. It is likely that business re-shoring will occur due to the pandemic, and CORF would provide another funding source to help Ohio remain competitive in attracting and retaining businesses.
The idea of providing for dedicated funding to the CORF program continues to attract attention both at the Ohio Statehouse and around Ohio. On Monday, the Columbus Dispatch published a story focused on Senate Bill 84 and the need to invest in the brownfield revitalization.
Joe Koncelik, a Cleveland-based attorney (and GOPC board member) was quoted in the story noting that in the last week, two deals for businesses to invest and create jobs in Ohio fell through because of environmental issues.
Investing in brownfields now will help to create jobs in the future.
At yesterdays hearing, GOPC was joined by representatives from NAIOP, the Ohio Land Bank Association, The Nature Conservancy, The Port of Greater Cincinnati Development Authority, the Ohio Municipal League and LaBella Associates, in supporting the adoption of the dedicated funding amendment.
Senators continue their work on the state budget, which is expected to be passed in the Senate something in the next month, with final passage needing to be completed by June 30, 2021.