In May 2006, the port authority issued $2,095,000 of development revenue bonds to finance new equipment for Dayton Legal Blank and improvements to its facilities. The port authority learned of the talks as part of its own efforts to deal with the company’s default.
Both companies are privately held. Dayton Legal Blank, 875 Congress Park Drive, is a printing and design firm specializing in elections materials that traces its history to the late 19th century. Dayton Mailing Services, 100 S. Keowee St., has worked in the direct mailing industry since the mid-1980s.
Christine Soward, president and owner of Dayton Mailing Services, confirmed that her company is in talks with Dayton Legal Blank and said she did not know when negotiations will end. She declined to elaborate.
Dave Keeler, Dayton Legal Blank president, did not return a call seeking comment.
Dayton Mailing Service could assume about $900,000 in Dayton Legal Blank’s remaining debt to the port authority, Evers said. “That’s the preferred option,” he said.
Another option for the port authority would be to issue a new bond, but that’s unlikely, Evers said.
The port authority’s resolution allows Dayton Mailing to assume the remaining principal and interest owed by Dayton Legal Blank. The resolution was approved unanimously; board member Edward McGarry, a senior vice president with PNC Bank, abstained.
Late last year, Soward told the Dayton Daily News that her business has 55 full-time employees and has 1,000 customers.
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