The Butler County Port Authority sold $37 million worth of bonds on behalf of Butler County Commissioners, Liberty Twp., and the Liberty Community Authority in November 2014.
That funding pays for the center’s infrastructure such as streets, parking, utilities and sewer and water systems, and is part of a Master Development Agreement outlining terms of the project’s tax incentives signed in July 2013 by the township, the county and the developer.
The developer is required to make minimum annual payments of approximately $2 million to pay the debt back, beginning when the center opened in 2015, according to the development agreement.
Only in the worst case scenario that the project fails will taxpayers be on the hook.
Liberty Twp. Trustee Tom Farrell said he doesn’t have any indication the center is in jeopardy.
“The activity has been very, very good from the commercial tenants increasing to the point where the buildings are almost at capacity, the apartments are all full, the restaurants and entertainment areas, you go to Liberty Center you will see that they are always full,” Farrell said.