Springboro explores financing for Austin Landing South

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Springboro explores financing for Austin Landing South

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Cinepolis Dayton at Austin Landing is the latest development on the northeast corner of the Austin Boulevard interchange. Springboro and the Warren County Port Authority are working to bring development to the southeast corner. NICK BLIZZARD/STAFF

Springboro is turning to the Warren County Port Authority for help with financing the Austin Landing South development.

On Thursday, the city council is scheduled to consider approving a cooperative agreement with the port authority, an independent agency formed by the Warren County commissioners, to assist with economic development.

“This cooperative agreement in no way obligates the city to move forward with the project. This is merely for exploratory purposes at this stage of the project,” Assistant City Manager Chris Pozzuto said in a memo to the council.

The port authority offers a range of financing options, including leases through which the developer avoids sales tax on construction materials.

So far, Austin Landing has been developed on the northeast and northwest corners of the interchange created at Austin Boulevard.

Austin Landing South would be developed on about 60 acres on the southeast corner. The city and RG Properties reached a consent decree for development of this land.

But the city is negotiating with Viscap Development, which took over the project from RG Properties.

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