Live Chat with CEO Will Friedman

Erika,

Thanks for the question. There has been at least one attempt to get federal funding, which wasn't successful. Our plan is to have local funding sources in order to increase our odds of leveraging federal funds.

Posted Oct 17, 2012

Dan,

This is one of those seemingly intractable problems that has been slowly developing for years. One of the complicating factors is that there are close to 20 property owners along the 30-acre hillside.

I can't answer the question for why the past played out the way it did, what I can do is focus on a solution going forward.

Posted Oct 17, 2012

Hi Dan,

Thanks for hosting us today. This morning we commissioned two custom-designed work boats to remove floating debris from the 6.5 mile river ship channel and a 5 mile stretch along the downtown Lake Erie shoreline.

As you may know the Cuyahoga River is on a US EPA watchlist, with floating debris considered an environmental stressor. Debris in the water is also an eyesore and can be hazardous for commercial and recreational boats as well as wildlife. We at the Port have expanded our mission to include environmental stewardship of our waterways and we consider the two boats -- Flotsam and Jetsam -- important to those efforts.

Posted Oct 17, 2012

Gina,

Thank you for the question. The levy would focus on preserving jobs, keeping the ship channel open and creating more access and connections to the river and lakefronts. Specifically the proposal includes 2 pedestrian bridges to the lake -- one from the downtown malls/convention center and the other from the west side of The Flats.

We also plan to stabilize the Irishtown Bend hillside -- and in the process create public access to the river. For those who don't know Irishtown Bend (also known as the Franklin Hillside) is near the West Side Market, between W. 25th and the river. It is slowly sliding into the river. Our fix would enable the continuation of the trail system (called the Lake Link Trail) from the Towpath Trail to Wendy Park.

 For more detailed information about the levy proposal, please visit our website: www.portofcleveland.com

Posted Oct 17, 2012

Nancy,

Glad you asked that question. The area where Ingenuity took place is actually a former Port working area that we returned to the City of Cleveland for mixed-use development.

We have consolidated the Port's footprint on a smaller area of the lakefront and we are involved in new efforts to bring new development to the lakefront.

As I see it, there already is ample space available for open space and development on the lakefront. To me its more about the quality of the place and the experience than a shortage of space.

Posted Oct 17, 2012

Will promises me that he will be providing an answer to this soon. In the meantime, here's the Strategic Plan, which he will no doubt reference in his response.  

Dan, 

Our priorities are clearly articulated in our Srategic Action Plan adopted by Port Board about a year ago. 

To my way of thinking, when you have a plan and you stay true to it, everyone knows what the goals are and how to measure progress and success.  By everyone, I mean my bosses (the Port Board), our employees (who I hold accountable), and most importantly the our stakeholders and public.  This is the essence of accountability and transperancey.

So what are these priorities?  In a nutshell they are:

Growing our maritime commerce to benefit firms in our City and region that compete globally (or aim to).

Serving more commmunities and projects with our financing tools (again it's about competitiveness and helping organizations grow).

Investing in the critical maritime infrastrucutre that underpins waterborne commerce and the development of our waterfronts (Franklin Hill, bulkheads, sediment management, sediment cleanup, and bridges/trailways that connect people with the water).

Managing the Port for financial sustaninability and communicating for transparancy, accountability and engagement.

Lastly, incoprating the sustainable practices into all we do.

As I said, all this is clearly laid out in our plan.  Check it out on www.portofcleveland.com. 

Posted Oct 17, 2012

Dan,

There are several ways we can be involved.

First by returning the land in front of the stadium to the city and sorting out responsibilities between the City and the Port, we've helped put the City in a position to seriously pursue mixed-use development.

I really believe the City is better positioned now than it ever has been to move forward with development on the lakefront. I know in the past there were false starts, but today the stars seem to be aligned.

In addition, Mayor Jackson asked me to be on a newly created advisory committee focused on putting out a request for proposals for lakefront development.

Finally, the Port is always available to provide bond financing for projects, as we have for many projects including the Rock and Roll Hall of Fame.  

Posted Oct 17, 2012

here's the release about the bond rating, for the benefit of others. 

Dan,

We're going to start with the second question, which is something I'm asked all the time. We issue bonds to provide low-cost and more flexible financing to entities -- from companies to nonprofits -- that want to expand.

It's very important to note that we don't lend Port or public money. We instead connect borrowers with private bond investors who are essentially lenders. This is an alternative to conventional mortgage financing.

We do it because our state statute grants us this authority and its a highly effective economic development tool. We'd be remiss not to use the tools we have to benefit the community.

In terms of the ratings upgrade. It was for our Common Bond Fund. The upgrade was a big deal for us. It shows confidence in not only our portfolio, but in our region. Ultimately it means better interest rates for borrowers.

Posted Oct 17, 2012

Dan,

I can assure you that today the Port is very transparent.

I think the Port can be a confusing public agency to understand because of the nature of what we do. But we are working hard to explain our work to the public. 

We've dramatically upgraded the quality and quantity of information we provide to the public. We encourage the Civic Commons community to check out our revised website, our new eNewsletter, and our social media. (again visit our website www.portofcleveland.com to see our priorities, sign up for the newsletter and connect to us on facebook and twitter)

We adopted a Strategic Action Plan last year that has 7 key policies -- including Communicating for Transparency, Public Engagement & Accountability. Our entire focus is on doing the work in our plan.

We're an open book. We're also extremely accessible and I regularly speak to groups large and small and look forward to more opportunities to meet with people. 

Posted Oct 17, 2012

If we're successful, 10 years from now, nobody will lament squandered opportunities on our waterfront.

I think we'll have a much more vibrant, vital harbor and waterfront environment, which includes commercial shipping and is a magnet for local residents and visitors.

Envision this:

Walking from the West Side Market down Franklin hill to the riverfront, and then taking the Lake Link Trail up to Wendy Park

Walking from Public Square through the malls and over the pedestrian bridge to the Great Lakes Science Center or the Rock Hall

Seeing marshy habitat areas teaming with birds and fish, and build up from river sediment

Seeing bustling marine terminals connecting our manfacturers and their workers to overseas markets, leading to more job creation and more people who want to take a break from their daily activities to watch our port activity.

To sum it up its more maritime trade, its more mixed-use waterfronts that are are the centerpiece of downtown, and its an even healthier river and lake.

Thanks for the live chat. 

Posted Oct 17, 2012