BUTLER COUNTY, Ohio -- Butler County commissioners are set to approve $44 million in bonds for a new assisted living complex in Fairfield Twp. that will bring about 100 new jobs.
Michigan-based StoryPoint, which offers independent living, assisted living and memory care, will build its facility on about 16 acres of the property known as the Grace Lutheran site at Hamilton-Mason and Gilmore roads.
Commissioners tabled consideration of the Butler County Port Authority issuing revenue bonds for the project in January until Hamilton and Fairfield Twp. officials finalized expansion of a special tax district known as a joint economic development district, or JEDD.
Port Authority Executive Director Mike McNamara said this is the largest port issuance ever.
Bonds for the mega mixed use Liberty Center development were $37 million.
The county will reap a healthy fee for helping with the project.
"The Port will receive $175,750 in fees, of which $115,750 will be paid to the county commissioners in order to fully compensate the county for any lost sales tax revenue due to the Port's sales tax exemption," he said. "In addition, the Port will receive $25,000 annually for at least 10 years beginning in 2018 as an annual fee."
