The purchase will help preserve and restore the historic Wright brothers factory hangars that are located on the site, and it also will support the redevelopment of other parts of the property for the new West Dayton Metro Library and other uses, the city said.
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A local nonprofit group worked for years to buy the historic hangar buildings to transfer to the National Park Service, but it could not reach an agreement with the owner, Home Avenue Redevelopment LLC.
The National Park Service has received federal authorization to buy the historic hangars and appropriated $450,000 for the transaction.
The city’s proposed deal with Home Avenue Redevelopment includes a promissory note that guarantees the company would get the first $250,000 of the sale of the hangars to the National Park Service.
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The city and Home Avenue Redevelopment would split all proceeds above $250,000, the proposal states.
The Dayton Metro Library wants to build its $10 million West Dayton branch on the property by U.S. 35 and Abbey Avenue.
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