Ohio Treasurer Kevin L. Boyce is using Treasury resources to help tornado victims rebuild.

The Boyce administration will use its linked-deposit program, Renew Ohio, to offer a 3 percent interest rate reduction on new or existing loans. This includes farmers, businesses or homeowners who reside in Fulton, Lucas, Ottawa and Wood counties. The Treasury will also make temporary changes to its State Treasury Asset Reserve (STAR Ohio) investment fund to provide relief. 
 
“I extend my sincerest condolences to those who have not only lost their homes but loved ones to this tragic event,” Boyce said.  “It will take a united effort to rebuild the community. Renew Ohio is one step in the process of repair. I call on all Ohioans to support these victims and offer any assistance they can.”
 
In addition to Renew Ohio, the Treasury will also modify the STAR Ohio program. Currently, investors may request to receive funds, up to $50 million, from their STAR account until 1:30 p.m. each day. The program will be adapted to allow shareholders to withdraw unlimited funds from 8 a.m. to 5 p.m. each day.
 
Wood County saw the most damage in Northwest Ohio. An estimated 100 homes and six commercial buildings were destroyed or severely damaged by what the National Weather service is calling Ohio’s strongest tornado in the last eight years. Lake High School and the Lake Township Police and Administration building were also destroyed by the tornados. Damages are predicted to total at least $100 million.   

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