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“This is a strategic acquisition,” West Carrollton Economic Development Director Michael Lucking said.
The city will pay $1.8 million for the Carrollton Plaza land, nearly 11 acres, documents show. A 2-acre parcel known as the Roberds warehouse will be donated to the city, Lucking said.
The two pieces of land have been given a market value of nearly $3.3 million, he said. The city will finance the project through a bond note at “a very, very favorable rate,” City Manager Brad Townsend said.
In 2012, a 600-acre, $110 million entertainment district was proposed in West Carrollton. In 2014, the city received state approval for a Community Entertainment District for the area along East Dixie Drive, and a market study evaluating the impact of what is now projected to be a 5,200-seat event center was completed.
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While a handful of tenants remain at the plaza, officials said much of the building space has been vacant for some time after furniture and appliance retailer Roberds Inc., a fixture in West Carrollton for years, decided in 2000 to close all of its 15 stores and two distribution centers in Ohio, Georgia and Indiana.
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