Springboro to borrrow $6M for roads, offer loan to attract 32 new jobs

Council to vote on financing for intersection, loan for company relocation.
Springboro is expected to borrow $6 million to help pay for widen and other improvements at Ohio 73 and Ohio 741, the city’s central crossroads.

Springboro is expected to borrow $6 million to help pay for widen and other improvements at Ohio 73 and Ohio 741, the city’s central crossroads.
Springboro
Dec 14, 2016
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Springboro City Council is scheduled to meet Thursday to approve a $300,000 forgivable loan with Caesar Creek Software, a local company moving into a new office building in the Ascent office campus in Springboro.

The company is to be forgiven the entire amount if it meets payroll targets rising from $3 million in 2017 to $6.5 million in 2023 at the new location. The company is expected to retain 30 employees and create 32 new jobs, all or most well-paying technical jobs.

Also, the council is to consider borrowing $6 million to pay for widening and other improvements at Central and Ohio 73, Main Street in Springboro.

The borrowing would renew $5.5 million already in debt taken on for the project, as well as $500,000 the city plans to pay the Warren County Transportation Improvement District in January.

The funds are part of about $15 million the city is to spend on the road improvements and redevelopment of the northeastern corner of the city's central crossroads.

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