The Medina County Port Authority in northeast Ohio plans to issue $29 million of recovery zone facility bonds to help finance construction of a new Hilton hotel to anchor a resort project on the shore of Lake Chippewa.

The site is owned by Chippewa Partners LLC, a group of developers from Arizona and California, according to a report in the local newspaper.

The resort will be located in Lafayette Township, about 30 miles from Cleveland and Akron.

The development will feature a 110-room Hilton with a conference center, theater, restaurant, and beach houses and pool houses along the lake.

The developers expect to break ground in September.

The bond issue comes nearly two years after the developers bought the 90-acre Chippewa Landing Resort project.

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.