DaytonDailyNews.com

DAYTON — The City Commission and the Dayton-Montgomery Port Authority struck a deal Wednesday to prepare a two-acre site downtown for development.

"We've been working on this for three years," said Ronald J. Parker, port authority president and executive director.

The commission agreed to make just under $2 million available to the port authority to speed the purchase of three properties at North Main Street and Monument Avenue, including a parking garage no longer in use because of structural problems, Parker said.

The plan calls for the demolition of the Avis building on Main Street, a two-story building at 31 E. First St., several parking lots and the garage.

The port authority will reimburse about $1.7 million to the city with HUD and ED/GE grants, according to the agreement.

The two-acre site has been proposed as a location for a $51 million office tower and parking garage for CareSource Management Group, which has not committed to the construction project, said Gwen Eberly, the city's acting economic development director.

"We want to make sure that when CareSource makes its announcement, if it is Main and Monument, we'll be ready," Eberly said.

CareSource provides managed health care plans to about 600,000 members in Ohio, Michigan and Indiana.

Parker has said a new building is needed because CareSource's requirements can't be met in the vacant space downtown.

"There's a lot of concern about the future of the city. We're always working to try and prepare for that next development opportunity," Parker said.

Contact this reporter at (937) 225-2362 or josmith@DaytonDailyNews.com.