OAQDA Closes Project Financing to Support Business Expansion and Economic Benefits in Montgomery County

FOR IMMEDIATE RELEASE
October 21, 2025

Media Contact: Lindsey Sanders [email protected]-618-1708

OAQDA Closes Project Financing to Support
Business Expansion and Economic Benefits
in Montgomery County

COLUMBUS - The Ohio Air Quality Development Authority (OAQDA) has issued its revenue bonds involving financing for a clean air project at 4406 Springfield Street in Riverside, Ohio. The facility, operated by 4406 Springfield St Property, LLC and leased to Mechanical Services and Design, Inc., will implement significant energy-saving upgrades as part of the company's expansion.

Financial assistance from OAQDA enables a public-private partnership with the use of air quality revenue bonds by Fifth Third to loan capital for the project in the amount of $3 million. The project will install rooftop solar panels, high-efficiency HVAC systems, LED lighting, and building envelope enhancements, contributing to a combined estimated energy savings of 58%.

"This is a game-changer for our operations," said John Stewart, CEO of Mechanical Services and Design, Inc. "With OAQDA's help, we're not only improving the energy efficiency of our facility but also reinforcing our long-term commitment to the Riverside community and our employees."

The project provides economic benefits to the business and community. Due to lower energy needs to operate the building, the tenant will experience reduced utility bills estimated by more than half compared to similar properties. The City of Riverside and Montgomery County communities will benefit from expanded economic development opportunities with the retention of 231 full-time jobs and the creation of another 25 new positions as part of the expansion at this facility.

"Projects like this show how businesses can make practical upgrades as part of their growth to improve operations, save money and benefit from strong public-private partnerships," said Christina O'Keeffe, executive director of OAQDA. "We're proud to be part of this effort that delivers meaningful economic value to the local community and region through our financial assistance."

"I applaud Mechanical Services and Design, Inc. for their investment in growing their business and making a commitment to clean air and energy efficiency," said State Representative Andrea White (R-Kettering). "With OAQDA's partnership, this facility has additional tools to modernize, compete and remain a job creator while protecting the health of our residents."

"Projects like this show how innovation and clean energy investments can strengthen Ohio's workforce and economic competitiveness," said Senator Willis Blackshear Jr. (D-Dayton). "This kind of support from OAQDA gives businesses the resources to expand responsibly while contributing to the health of the region."

This project was approved by the OAQDA through the Clean Air Improvement Program (CAIP), which is a platform that enables communities and businesses to access financial assistance from lenders, investors, and other capital providers for clean air projects. By reducing upfront costs and improving cash flow, CAIP helps projects across Ohio move forward with greater financial certainty and achieve long-term economic benefits for businesses and communities.

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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.