The Columbus-Franklin County Finance Authority issued $20 million in bonds with a capital lease financing package for The Wendell Project in Hilliard, Ohio. The Wendell Project is a 182 unit multi-family residential project on 15 acres located on Riggins Road in Hilliard. The project will be developed by a real estate entity owned by the Kelley, Weiler and Ruma families.
“We have been very pleased to work with the Finance Authority on our project in the City of Hilliard. The capital lease financing helped us reduce our costs and increase our ROI. We had a tight timeline, but the Finance Authority accommodated and enabled us to stay on schedule. We look forward to working with them again.” – Michael Kelley, the Kelley Companies
The Kelley and Weiler families have been partners for nearly fifty years, together developing residential and commercial real estate throughout Central Ohio, in addition to providing property management, brokerage and construction services. The Ruma family also has a long and well-established track record for successful real estate development, as well as single family home construction in Columbus and beyond.
The Columbus-Franklin County Finance Authority is a public agency designed to facilitate capital investments by the private, non-profit and public sectors in Central Ohio. The Finance Authority is an eligible issuer of tax-exempt and taxable debt. The Finance Authority works in partnership with traditional lending institutions and other public partners, acting as a valuable resource for your financing options. The Finance Authority has issued over $738 million in bond financing projects that will invest more than $917 million and facilitate over 5,800 jobs in Central Ohio.
The Finance Authority would like to thank our transaction partners, DiPerna & Associates and Roetzel & Andress, for their assistance on the financing.
The Finance Authority gratefully acknowledges support received from the
Franklin County Board of Commissioners and the City of Columbus.