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Dayton EDA weighs state bonding against cash grants to buy historic-village parcels
Summary
The Dayton Economic Development Authority discussed using a cash appropriation or state bonding to buy four parcels in the historic village for redevelopment, confirmed a purchase agreement and due diligence steps, and was advised that bonding requires public ownership and a public purpose.
The Dayton Economic Development Authority on Tuesday discussed whether to seek state bonding or a cash appropriation to acquire four parcels in the city’s historic village and prepare them for redevelopment. Speaker 2 said the conversation followed a recent presentation by Senator Hoffman and framed two funding paths: bonding or a cash award from the legislature.
Speaker 8 explained bonding rules and tradeoffs, saying bonding dollars require the purchased property to be acquired for a public use and retained for that public use for the property’s useful…
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