DAYTON, Ohio (AP) — A southwestern Ohio county has agreed to give a university and a health care network $2 million if they buy the county’s fairgrounds and redevelop an historic roundhouse.
The Dayton Daily News (http://bit.ly/2jbzX6K ) reports the University of Dayton and Premier Health earlier signed a letter of intent last month to purchase the Montgomery County Fairgrounds for $15 million. County commissioners on Tuesday approved a purchase agreement for the 38-acre property.
UD and Premier agreed to pay $3 million when they close on the property and the remainder when they take ownership. But the two institutions will only have to pay $1 million of the initial $3 million if they commit to renovating or rehabbing the roundhouse building on the property.
The institutions have through February to terminate the agreement.
Information from: Dayton Daily News, http://www.daytondailynews.com
RECOMMENDED FOR YOU