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County Staff: Middletown Arena Project in Underwriting; Commissioners Seek Clearer Public Briefing on County Role
Summary
County staff reported the Middletown mixed-use arena project is in underwriting with Barclays and under peer review; staff said about 60–70% of space is preleased to prospective users. Commissioners questioned whether Warren County was seeking capital dollars and asked for clearer public vetting of the county’s role.
County staff told Warren County commissioners that the proposed Middletown mixed-use arena and development is in underwriting with Barclays and that a peer review of the project’s pro forma is nearly complete.
“Barclays wanted a peer review,” a county staff member reported, describing work by a Utah firm performing the review. The staff member said the project team has provided development pro forma and that the peer review is expected to be completed “this or next week.”
County staff said earlier spending of ARPA funds covered…
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