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Council OKs up to $4.95 million in notes for 30‑acre multiuse development along Union Road
Summary
On Feb. 3 the council passed Ordinance o2026‑06 to issue notes in anticipation of bonds up to $4,950,000 to acquire approximately 30 acres along Union Road/State Route 122 for a multiuse development and associated infrastructure (utilities, roads, sidewalks, lighting).
MIDDLETOWN, Ohio — Council passed Ordinance o2026‑06 (second reading) on Feb. 3 authorizing issuance and sale of notes up to a maximum principal amount of $4,950,000 in anticipation of future bonds. The financing would support acquisition of roughly 30 acres along Union Road and State Route 122 for a multiuse development and related public infrastructure including water, sanitary sewer, storm sewer, roads, traffic signals, curbs, sidewalks and lighting.
Law Director Alex Ewing read the ordinance summary at the second reading. City Manager Ashley Combs had no additional staff report. Council moved and seconded approval and adopted the ordinance by roll call.
The ordinance authorizes short‑term notes issued in anticipation of long‑term bonds; staff indicated the borrowing is intended to support economic development and job creation tied to the proposed site. No detailed bond terms, purchaser identity or closing dates were presented at the meeting; the item was handled as legislative authorization for borrowing capacity.
