LISBON — Bids are being sought for a Target of Opportunity Program rehabilitation project on South Broadway Avenue in Salem at the site of the former Lion and Lamb bookstore.

Columbiana County commissioners on Wednesday gave permission for advertising for bids for the Community Development Block Grant project at 145-165 S. Broadway Ave., Salem, with bids due by 9 a.m. Oct. 2.

The project is being overseen by the Columbiana County Port Authority.

In July, the commissioners accepted a $250,000 grant from the Target of Opportunity Program toward the building rehab project. The Port Authority applied for the funds through the Ohio Department of Development through the state of Ohio Community Development Block Grant Program and will administer the grant.

At the time, CCPA Assistant Director Brittany Smith explained the money will assist in the rehabilitation of the property at 145 to 165 S. Broadway, Salem, which is owned by Teldar Real Estate, LLC. Private investment by the owner of the property was set at $537,620 for the project, she said.

Haeden Panezott, also of CCPA, explained then that private rehab projects must meet the objectives of the program for eliminating slum and blight. The project will include replacement of the roof, replacement of the windows, code upgrades for electrical and plumbing and Americans with Disabilities Act upgrades.

In other business, Commissioner Tim Weigle announced he’s attending the Ohio Power Siting Board meeting set for 1:30 p.m. today regarding the Kensington Solar Project for an entry considering the withdrawal request of the application.

Back in June, Kensington Solar filed a document to withdraw its application with the board to construct a solar facility in Franklin Township near Summitville. Local governmental entities and a group opposed to the project filed motions asking for reactivating of the case which had been stayed back in January. The meeting will be held at the Public Utilities Commission of Ohio in Columbus. The meeting agenda includes an address for a live stream at www.youtube.com/user/PUCOhio.

The commissioners also hosted the quarterly meeting of the Investment Advisory Board with county Treasurer Bryan Blakeman and Meeder Investment Management Portfolio Manager Jim McCourt, with Blakeman reporting the state auditor’s office asked why the county’s investment income increased so much the last few years. The county has been using Meeder the last few years and taking advantage of increases in interest rates to earn more interest through longer term investments.

Blakeman said the county has gained $2.6 million in interest income so far this year, but he said the county is on pace to reach $4 million for the year. His first year in office the interest income was $600,000.

McCourt told commissioners he expected the Federal Reserve to drop the interest rates and that’s exactly what happened in the afternoon by half a percentage point. In the last few years, the county has been placing investments into longer term securities at the higher interest rates and those rates are now locked in.

“You have a lot of unrealized capital gain in the portfolio now,” he said, noting the county will continue to enjoy higher income as the interest rates start to come back down since they’re locked in at higher rates.

McCourt said looking to 2025, the county has $3.2 million locked in for next year from the securities portion of the investment portfolio.

The report presented to commissioners showed a total portfolio of $137.8 million, with more than $111 million in securities and more than $25 million in STAR Ohio, which is liquid.

Blakeman said he keeps an amount equal to a year’s worth of the general fund in STAR Ohio in case something happens, such as a recession, and he needs to access the money. He referred to the interest income as a sort of rainy day fund which is reinvested. None of the money invested comes from the general fund.

In other matters, commissioners also: gave permission for county Engineer Bert Dawson to advertise for bids for the St. Clair Township Midland Fredericktown slip repair project, with electronic bids to be opened Oct. 16; approved a road use maintenance agreement for Georgetown Road/Knox School Road, for the Kitzmiller Well Connect; and granted permission to hunt on the county’s County Home Road, Lisbon property to John Cope.