OAQDA Issues More Than $1.1 Million in Bond Financing for Energy Saving Project for Clark County Pizza Restaurant

FOR IMMEDIATE RELEASE
October 28, 2024

Media Contact: Katie Lundy
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614-353-6476

OAQDA Issues More Than $1.1 Million in Bond Financing for Energy Saving Project for Clark County Pizza Restaurant
Project to support energy upgrades and renewable generation while supporting
Springfield small business' growth

COLUMBUS - The Ohio Air Quality Development Authority (OAQDA)issued more than $1.1 million in air quality revenue bonds to finance energy-efficiency and solar energy improvements for Dutch and Dutch Real Estate LLC as the group prepares to open a new location for Cassano's Pizza restaurant in Springfield.The financial assistance is provided through OAQDA's Clean Air Improvement Program(CAIP).

"OAQDA's programs help small businesses maximize financial savings to improve operations and grow in their communities," said Executive Director of OAQDA Christina O'Keeffe. "OAQDA is pleased to provide support for this project that results in significant energy savings for Cassano's Pizza, helping them expand their business in Springfield."

The air quality project, located at 2018 E. Main St. in Springfield, includes installing a roof-mounted solar photovoltaic system, an upgraded highly efficient HVAC system, LED lighting fixtures and building envelope upgrades. The energy-saving measures are anticipated to achieve a cumulative 40 percent energy savings and a 42.5 percent reduction in utility costs for the restaurant. The proposed solar electric system will generate approximately 12,320 kWh/year.

Financing was secured using property assessed clean energy (PACE) financing approved by the local government of Springfield as well as the OAQDA-backed loan provided through First Financial.

"The new Cassano's Pizza restaurant replaces an older building that our family-owned business has used for years but has outgrown," explained Cassano's Owner Chip Cassano. "Using the OAQDA program, we are able to finance energy-efficiency upgrades to our new building, helping our business expand, increase revenue and better serve Springfield customers."

Cassano's Pizza is a third-generation, family-owned business that started in 1953 and will now have 33 locations throughout Dayton and Springfield. The project will create three new full-time jobs, sustain one existing position and create eight part-time jobs.

"It is critically important to support our small businesses as they seek to grow in our communities," said Sen. Bob Hackett (R-London). "Through OAQDA, Cassano's Pizza can expand and create jobs while reducing their energy costs. The financial assistance is a big benefit to keep this business thriving."

"As a Springfield resident, I appreciate the benefits that OAQDA and its financing tools can provide to growing companies like Cassano's Pizza," said Rep. Bernard Willis (R-Springfield). "Cassano's is a local favorite and I applaud the job creation and financial savings this program brings to Ohio businesses."

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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.

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