The Warren County Port Authority, which has a consulting agreement with the Butler County port, assisted in the deal.
Port authorities can provide special financing for large development projects such as issuing bonds. Under Ohio law, port authorities can own, finance, construct and lease real estate, including land, building and equipment.
This is the second taxpayer-backed bond deal to be approved this year by the Butler County port, which authorized last month a series of two bond issues totaling $8 million to help finance construction of Colonial’s new medical rehabilitation center along Main Street in Hamilton.
Last year, the board approved two business deals. One was comprised of a series of three bonds totaling approximately $37 million for the Liberty Center retail complex under construction now in Liberty Twp. The second was a bond refinance for Great Miami Valley YMCA.
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