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Under the original terms of the sale finalized April 14, the agricultural society was slated to vacate the property in October when the partnership would take possession.
Extending the lease is mutually beneficial for both parties, according to UD. The society will be able to move from the fairgrounds directly to its new home at Judge Arthur O. Fisher Park in Jefferson Twp. and the partnership will have more time to plan the future of the property.
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“This is great for the agricultural society because it means we won’t have to move twice,” said John Yancik, agricultural society board president. “We’re looking forward to celebrating the fair’s more than 160-year history at this site this summer on July 10-15 and the new site in 2018.”
Premier Health and UD formed a joint venture, Fairgrounds Redevelopment Ltd., to redevelop the property. The partnership’s purchase of the historic property included an allocation of $2 million from Montgomery County for the preservation of the distinctive Roundhouse, according to UD.
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“Premier Health and the University are taking steps to redevelop the property in a collaborative manner,” said Buddy LaChance, director of campus planning and real estate for Premier Health. “In the meantime, we are pleased to do what we can to make this a smooth transition.”
The partnership is conducting a national search for a firm to work with Premier, UD and the community to help develop a site plan, said Andy Horner, UD’s vice president for finance and administrative services.
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