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City of Akron, Ohio 2012 Annual Informational Statement

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City of Akron, Ohio 2012 Annual Informational Statement CITY OF AKRON, OHIO 2012 ANNUAL INFORMATIONAL STATEMENT The City of Akron intends that this Annual Informational Statement will be used (1) together with information to be specifically provided by the City for that purpose, in connection with the original offering and issuance by the City of its bonds, notes and other obligations and (2) to provide information concerning the City on a continuing annual basis. Questions regarding information contained in this Annual Informational Statement should be directed to Diane L. Miller-Dawson, Director of Finance, City of Akron, Municipal Building, 166 South High Street, Akron, Ohio 44308; telephone 330-375-2316; facsimile 330-375- 2291; email [email protected]. The date of this Annual Informational Statement is September 30, 2012 REGARDING THIS ANNUAL INFORMATIONAL STATEMENT The information and expressions of opinion in this Annual Information Statement are subject to change without notice. Neither the delivery of this Annual Informational Statement nor any sale made in connection with the delivery should, under any circumstances, give rise to any inference that there has been no change in the affairs of the City since the date of this Annual Informational Statement. TABLE OF CONTENTS Page Cover Page ............................................................................................................................ 1 REGARDING THIS ANNUAL INFORMATIONAL STATEMENT ........................ 2 TABLE OF CONTENTS .................................................................................................. 2 INTRODUCTORY STATEMENT .................................................................................. 6 THE CITY ........................................................................................................................... 7 General ..................................................................................................................... 7 City Government ...................................................................................................... 7 Employees ................................................................................................................ 10 Facilities ................................................................................................................... 12 Capital Investment Program .................................................................................... 13 Community and Economic Development Programs ............................................... 14 Industrial Development Program ................................................................ 14 Grant Washington Renewal Project ................................................ 14 Opportunity Park Renewal Project ................................................. 14 Selected Updates ............................................................................. 16 Map 1; Industrial Parks, JEDDS, & Biomedical ............................ 17 Canal Place ...................................................................................... 18 Sweitzer Avenue Industrial Development Project ......................... 19 Bridgestone/Firestone Project ......................................................... 19 Bridgestone/Firestone Technical Center ......................................... 19 South Main Street Redevelopment ................................................. 19 Goodyear Tire & Rubber Company Project ................................... 19 Akron Global Business Accelerator ............................................... 20 Ascot Industrial Park ....................................................................... 22 Ghent Road Office Park .................................................................. 24 West Akron ..................................................................................... 24 South Akron Redevelopment; Akron Square ................................. 25 Airport Development Area ............................................................. 25 Lockheed Martin Corp. ................................................................... 25 Massillon Road Industrial Park ....................................................... 26 North Turkeyfoot Industrial Park ................................................... 26 University Technology Park ........................................................... 26 South Munroe Road Industrial Park ............................................... 27 Former Brown/Graves Lumber Mill Property ................................ 27 Morgan Urban Renewal Area ......................................................... 27 Polymer Research and Development .............................................. 27 Polymer Industrial Projects ............................................................. 28 Central Business District (CBD) Development Program ........................... 28 Cascade Renewal Project ................................................................ 28 Convention Center .......................................................................... 29 Quaker Square Development Project.............................................. 29 University Area Expansion and Development ............................... 29 2 University Park Area Redevelopment ............................................ 29 National Inventors Hall of Fame .................................................... 30 Canal Park Stadium ......................................................................... 30 Lock III & IV Redevelopment Area ............................................... 31 Akron Civic Theatre........................................................................ 31 O’Neil’s Building ............................................................................ 31 Map 2; Central Business District .................................................... 32 Main Place Project .......................................................................... 33 Akron’s Historic District at Main and Market ................................ 33 Akron-Summit County Library System ......................................... 33 Akron Art Museum ......................................................................... 33 Former Fire Station One ................................................................. 33 Summa Health Systems Inc. ........................................................... 33 Canal Square (YMCA Project) ....................................................... 34 State, County and City Projects ...................................................... 34 Main Street Transit way .................................................................. 34 Downtown Strategic Plan; Downtown Akron Partnership ............ 34 Akron Biomedical Corridor ............................................................ 35 Other CBD Developments .............................................................. 36 City-Wide Programs and Projects ............................................................... 36 All-America City ............................................................................. 36 Knight Center of Digital Excellence ............................................... 36 Imagine.Akron 2025 ....................................................................... 37 Auto Dealership Retention .............................................................. 37 Highland Square Redevelopment ................................................... 37 Akron Community Learning Centers ............................................. 37 Brownfield Projects ......................................................................... 37 Neighborhood Development Program ........................................................ 38 Neighborhood Business District (NBD) Projects ........................... 38 Neighborhood Housing Development Projects .............................. 38 New Residential Construction ........................................................ 39 Joint Economic Development Districts ................................................................... 39 Historical JEDD Revenues ............................................................. 42 Land Use/Annexation .............................................................................................. 43 Economic and Demographic Information ............................................................... 43 Population .................................................................................................... 43 Employment................................................................................................. 44 Income ......................................................................................................... 47 Housing and Building Permits .................................................................... 47 Sewer System ........................................................................................................... 48 General ......................................................................................................... 48 Capital Improvements ................................................................................. 49 Employees ................................................................................................... 50 Service Area and Users ............................................................................... 50 Sewer Rates ................................................................................................. 54 Billing; Delinquent Sewer System
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