DevelopOhio

A new governmental entity will collect millions of dollars and oversee the infrastructure construction costs for the soon-to-be-open Liberty Center mixed use development in Liberty Township, the Hamilton Journal-News reports. Caleb Bell, a partner and attorney who specializes in public finance for the law firm Bricker & Eckler, said, “[t]here is generally a view in the private sector in order to get things done, governmental power is needed especially on larger projects and especially on projects with a lot of infrastructure.” Shoppers “will pay 50 cents for every $100 spent,” and property owners “will pay a 10 mill special assessment on real property value in addition to their tax bills” to the Liberty Community Authority. Those funds will “be used to make payments on Liberty Community’s debt and could also be used to defray maintenance and operational costs of certain public infrastructure,” according to the article. Bell explained, “[y]ou pay for improvements as you go and not one party pays for all the risk.” The Liberty Community Authority, a new community authority under Ohio law, is managed by a seven-member board that includes community representatives, developer representatives, and four citizen members “appointed by Butler County Commissioners.” For more, read the full article.