Dayton could declare county fairgrounds a blighted area to facilitate redevelopment

Developers are asking the City of Dayton to have the former Montgomery County Fairgrounds designated a blighted area eligible for a tax increment financing (TIF) district, the Dayton Daily News reports. OnMain, “a partnership between Premier Health and the University of Dayton,” is redeveloping the 38-acre site into a mixed-use space that would include “around 1,600 housing units, 900,000 square feet of commercial office space, 75,000 square feet of retail and 35,000 square feet of community space,” as well as up to three parking garages, according to the article. A third-party planning firm conducted an analysis that concluded the site meets the state criteria for a blighted property. OnMain says a TIF district would “help fund the infrastructure improvements that are needed to make the property ready for investment by private commercial or residential developers,” including water infrastructure, streets, utilities, sidewalks and other public amenities. OnMain “said it will work with Dayton Public Schools and the city to create a Tax Increment Financing District plan for the site” that would “propose a compensation agreement with the school district.” For more, read the full article.

Economic Development, Financial Incentives, Project Finance, State Updates