Butler County Commissioners on Monday approved the funding agreement for the Liberty Center project, the final approval needed by developers to borrow taxpayer-backed dollars for the mega retail center now under construction. <\/p>\n
The decision ends negotiations that have lasted more than a year to close on public financing incentives for the mega retail complex being built at the intersection of Ohio 129, Interstate 75 and Liberty Way in Liberty Twp. <\/p>\n
Commissioners committed approximately $10 million via a bond issue. The total project cost is expected to be more than $350 million, including private and public sources. <\/p>\n
Liberty Twp. trustees previously approved around $5 million in funding. <\/p>\n
Its exciting to have brought the largest retail development in Butler County history here, said County Commissioner Cindy Carpenter. We believe that reducing our liability has met the satisfaction of the board and that the countys interests are protected. <\/p>\n
Scheduled to open in fall 2015, the mixed retail, residential, office and dining center is set to receive up to $43 million in funding backed by taxpayer dollars. <\/p>\n
Its expected a total $31 million worth of public bonds will be issued by Butler County Port Authority, on behalf of Liberty Twp., Butler County Commissioners and the Liberty Community Authority. <\/p>\n
That funding pays for the centers infrastructure such as streets, parking, utilities and sewer and water systems, and is part of a Master Development Agreement signed between the township, the county and Columbus-based private developer Steiner in July 2013. <\/p>\n
The rest of the $43 million in public dollars committed to the project includes a $12 million loan approved by Ohio Water Development Authority. <\/p>\n
I think our county residents can be assured that the due diligence has been put into this project and weve had the expertise on board to deal with it, Commissioner Don Dixon said. <\/p>\n
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Butler County approves public funding for Liberty Center<\/a><\/p>\n","protected":false},"excerpt":{"rendered":" Butler County Commissioners on Monday approved the funding agreement for the Liberty Center project, the final approval needed by developers to borrow taxpayer-backed dollars for the mega retail center now under construction. The decision ends negotiations that have lasted more than a year to close on public financing incentives for the mega retail complex being built at the intersection of Ohio 129, Interstate 75 and Liberty Way in Liberty Twp Continue reading