Butler County Finance Authority asks commissioners to reallocate $1 million into jobs and site-development bond fund

The Butler County Board of Commissioners heard a presentation from Joshua Smith, administrator for the Butler County Finance Authority, asking the county to reallocate its remaining three‑year operating contributions to seed a jobs and site‑development bond fund.

Smith told commissioners the authority has an existing memorandum of understanding with the county to contribute $250,000 per year for three years for operating support. "My ask of the commissioners is to provide a million dollars and forego the last 3 years of our, the operating commitment," Smith said, describing the request as a reallocation of the county's committed annual contributions into a development fund.

Why it matters: The authority said a dedicated bond fund would be able to provide lower‑cost capital to manufacturers and prospective employers, speeding expansions and job creation. Smith cited a prior conduit financing for the YMCA that he said saved the organization roughly $250,000 a year in interest and said similar savings for manufacturers could be reinvested in operations and growth.

Details of the request and context

Smith said the authority already holds a $1 million contribution from the City of Hamilton and has a cooperative agreement pending with Middletown for $500,000. He also said the authority has applied to the Hamilton Community Foundation for an additional $1 million. The county contribution Smith requested would be a $1 million reallocation consisting of the county's prior three annual $250,000 commitments plus the current year's amount already granted, he said.

Smith described a multi‑pronged "financial toolbox" the Butler County Finance Authority is developing that includes the bond fund and a site development fund aimed at reusing underproductive properties and assembling parcels to attract investment. He outlined ongoing working groups: a "committee of 17" of major local employers and officials to maintain a business‑government pipeline; an innovation working group focused on artificial intelligence applications for mid‑size manufacturers; and an airport working group studying undeveloped airport land around Oxford and Middletown.

Smith also said the authority is exploring a 501(c)(3) component and applying to be a certified development entity (CDE) to pursue New Markets Tax Credits and other treasury programs.

Commissioner reaction and next steps

Commissioners expressed general support during the meeting and directed staff to bring a formal agenda item. County Administrator Boiko said staff will prepare a resolution or amended MOU for a future meeting. Smith confirmed the bond‑fund item is scheduled for the next commissioners' meeting for formal consideration.

Quotes from the meeting

"Currently the city of Hamilton has provided a million dollars for a bond fund that's sitting in our account right now," Smith said during his presentation. "We have a cooperative agreement on our agenda tomorrow with Middletown to provide $500,000 to the bond fund. I do have a request into the Hamilton Community Foundation for an additional million dollars."

Unattributed in the transcript, one commissioner said, "I support a larger donation," while other commissioners praised the authority's recent work and asked staff to return a formal resolution.

Ending

Smith left materials with the commissioners, including a 2024 annual report and a one‑page summary of the authority's "toolbox." Staff will present a formal resolution and any MOU amendment at the next scheduled meeting for a vote.