Proposal for $100M Renaissance Point event center seeks county backing; commissioners ask for more detail, defer decision

Warren County commissioners on Feb. 17 heard a multi‑hour presentation on a proposed Renaissance Point event center and multi‑rink arena in the City of Middletown and were asked to consider county participation via the newly created economic development fund and an additional county credit enhancement of $12.5 million.

Project and site: Staff described the site south of Atrium Hospital on State Route 122 as a roughly 50‑acre redevelopment parcel called Renaissance Point, with a mixed‑use plan that includes a three‑sheet ice complex, a 3,500‑seat arena (the largest surface) and surrounding commercial and hospitality development. Consultants estimated the event center itself would be about $100 million and the broader development up to about $200 million.

Feasibility and operations: Independent consultants and project partners presented three separate validations of demand and operating assumptions (city‑commissioned and third‑party studies). Lee Cloget of Community Center Partners emphasized the mixed‑use, family‑oriented program and said, "This is not an ice rink we're building. This is a multi use sports entertainment facility with food and beverage and so forth." John Wack of Eastern Sports Management said contingent contracts and local user agreements supplied a foundation for the operating pro forma, and USHL Commissioner Glenn Heffern said a roughly 3,500‑seat capacity is appropriate for a junior league anchor tenant.

Timeline pressure: USHL representatives and contractors described an urgent construction schedule to field a team for the 2027‑28 season; contractors estimated design and construction would take 18–24 months, putting pressure on early financing and design milestones.

Capital stack and requested county support: Finance advisers reviewed a proposed capital structure of approximately $75 million in senior lien bonds issued through the port authority, $25 million split between municipal (city and county) credit enhancements (presenters discussed a $12.5 million county share), and roughly $25–26 million to be financed in the market. The project team described supporting revenue mechanisms including a New Community Authority (NCA) package with a 2% retail food and beverage charge, an additional 3% hotel charge on hotels that opt into the NCA, and a 5‑mil property tax surcharge in designated parcels, plus TIF and other development‑area revenues. Consultants estimated that the county/city credit portion (e.g., the $12.5 million enhancement) would carry debt service in the range of about $830,000 to $850,000 annually depending on interest rates.

Private commitments and risk sharing: Woodard Development and affiliated partners said they have committed to significant private investment around the site and that Woodard principals have offered personal guarantees on certain TIF bonds supporting infrastructure (presenters referenced about $23 million in guarantees for the infrastructure TIF). The developer said prime corner parcels would be held until the arena commitment is known.

Community testimony: Representatives of the Greater Miami Valley YMCA, the Dayton Hockey Association (Dayton Stealth), Academy Hockey Club, and other youth hockey groups described a regional shortage of ice capacity, canceled practices and games, and demand for tournaments and youth programming. Jeff Milano (Dayton Hockey Association) said the organization had to turn away players in recent seasons and supported the value of additional ice sheets for practice and tournaments.

Commissioner concerns and next steps: Commissioners pressed for clarity on the amount of private capital at risk, exact county obligations and worst‑case exposure, and whether establishing the county fund would set an open precedent for future requests. Staff reiterated the commission retains sole discretion on any fund utilization and stressed that the $10 million fund has been created but not tapped. Given the volume of out‑of‑town attendees and the absence of one commissioner, the board agreed to reconvene and consider action at its next regular meeting in two weeks. Staff was asked to prepare a one‑page capital flow diagram and to provide additional detail about private capital commitments, underwriting, and the exact terms of any requested county enhancement.