Tax-Exempt Financing Strategies for Waterfront and Downtown Developments

The City of Cleveland is seeking financing structures, strategies, and options from financial institutions, qualified underwriters, and investment banks for tax-exempt financing of North Coast Connector and Riverfront development costs.

City of Cleveland > Finance Department


General
Open
Sep 15, 2026 12:00 PM
Request for Information (RFI)
Local
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Contact
pbarrett2@clevelandohio.gov
Submission Instructions
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Description

The City of Cleveland is requesting market input from financing institutions, qualified underwriters, and investment banks on structuring tax-exempt financing for project costs associated with the Shore-to-Core-to-Shore District, including Phase 1 of the North Coast Connector and Riverfront improvements. Respondents may propose interim financing, renewal notes, permanent bond solutions, or alternative and complementary structures that comply with Ohio law and identify the applicable statutory authority. Responses should address financing size and phasing against projected tax increment financing revenues, the City's 60% and Bedrock's 40% revenue allocations, present-value assumptions, sensitivity to changes in collections, Bedrock's neighborhood equity fund commitments, fees and expenses, and all proposed conditions or restrictions. The requested response format includes contact information, up to three strategies and structures, fees and expenses, and conditions.

Classification Codes
NAICS523150Investment Banking and Securities Intermediation
PSCX1KZLEASE/RENTAL OF OTHER CONSERVATION AND DEVELOPMENT FACILITIES
Smart Codes
municipal bond financingtax increment financinginvestment banking advisory
Specifications
Service Only
Timeline
Sep 7, 2026-Questions Due Date
Sep 15, 2026-Response Due Date
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