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Port Authority Board of Directors Approves Purchase Agreement for One Government Center

Port Authority Board of Directors Approves Purchase Agreement for One Government Center

TOLEDO, Ohio, August 23, 2018 – The Toledo-Lucas County Port Authority Board of Directors approved today a purchase agreement with the State of Ohio to purchase Michael V. Disalle Government Center. The State of Ohio will transfer title of the building to the Port Authority for one dollar. The Port Authority Board of Directors also approved today $1 million in reserve funds to provide an operating fund for the operation of the building at start-up.

Posted on Thursday, August 23, 2018

TOLEDO, Ohio, August 23, 2018 – The Toledo-Lucas County Port Authority Board of Directors approved today a purchase agreement with the State of Ohio to purchase Michael V. Disalle Government Center. The State of Ohio will transfer title of the building to the Port Authority for one dollar. The Port Authority Board of Directors also approved today $1 million in reserve funds to provide an operating fund for the operation of the building at start-up.

“The Port Authority is uniquely positioned to own and manage One Government Center for the good of the community,” said Paul Toth, President and CEO of the Toledo-Lucas County Port Authority. “By adding One Government Center to our facility portfolio, we are able to keep the building in local government hands, provide stability to its current tenants, and most importantly keep the occupancy costs low for the governmental entities occupying the building.”

Currently, One Government Center houses more than 1,500 City, County and State office employees in support of governmental operations in Northwest Ohio. The building has 22 stories with a total of 505,000 square feet of space and a four-story parking garage with approximately 350 parking spaces.

“The Board is very committed to the local community and we will make sure One Government Center will continue to be an asset of which the residents of Northwest Ohio will be proud,” said John Szuch, Chairman of the Toledo-Lucas County Port Authority Board of Directors.

One Government Center was constructed by the State of Ohio in 1983 at a cost of approximately $61 million. Construction debt on the building has been paid off. The building has been managed by the Ohio Building Authority and more recently by the State of Ohio Department of Administrative Services.

The Port Authority has been in discussions off and on for the past four years, and over the past eight months completed due diligence regarding the facility and its condition and entered into negotiations for the sale of One Government Center.

The Port Authority currently owns and manages several downtown Toledo facilities including One Maritime Plaza, Two Maritime Plaza, the Dr. Martin Luther King, Jr. Plaza, and the Vistula, Port Lawrence and Superior parking garages.

The mission of the Toledo-Lucas County Port Authority is to develop expertise and assets that drive and grow the region’s transportation and logistics infrastructure and its economic prosperity for all.

   www.toledoport.org – 419.243.8251

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