The Butler County Finance Authority (BCFA) is not contributing financially but will solicit additional private and institutional contributions to the fund, identify and apply for grants, identify and evaluate potential projects, perform due diligence and recommend projects for funding.
“What we’re trying to accomplish in Middletown is assembling funds that will reignite the downtown development,” Joshua Smith, BCFA president and CEO, said in a Butler County Commissioners meeting this week. “The Manchester site is ... ground zero for that. We’re really looking to drive (residential) density that has not existed there for a long time.”
The MOU outlines a framework of how the funds will be used and “what the overall aspirations are for that utilization,” according to Jacob Schulte, acting and assistant director for the city’s department of community and economic development.
Ideas for the funds include real estate development, incentivizing new businesses and developers, and adding upper-floor residential spaces, according to Schulte.
“However we can best create that live, work, play dynamic in our downtown is really our focal point in what we’re driving to do,” he said.
Here are some of the details of the MOU:
- A dedicated fund, coined the “Downtown Middletown Revitalization Fund” has been established by MCF
- MCF will contribute $5 million to the fund on or before Feb. 15
- In recognition of MCF’s $5 million contribution, the downtown park to be constructed atop the new CSO basin will be named Middletown Community Foundation Park
- The city will provide evidence of the $2.35 million expended in 2025 toward the completion of Middletown Community Foundation Park
- $2.65 million of general funds from the city will be deposited to MCF
- The county will contribute $5 million to the fund on or before Feb. 15
Credit: Nick Graham
Credit: Nick Graham
MCF has not officially voted on the MOU; MCF’s Board of Trustees Chair Beth Yauch will be bringing it to the board Tuesday for approval.
While she could not say whether the board would approve the MOU or not, she did say the board has on two occasions directed Yauch to move forward through negotiations.
MCF, which has just entered its 50th anniversary year, has a mission to help with the city and bring economic development to the area.
“How else would that happen if we don’t participate?” Yauch said.
“There’s so much that we can do with downtown but it all takes building blocks. One step at a time.”
Initial disbursements include but are not limited to:
- Up to $2.65 million for the completion of Middletown Community Foundation Park
- Up to $4 million for redevelopment activities of the former Manchester Inn and Sonshine building
- Up to $5M million for improvements to the First National Bank Building, Goetz Tower and former Cincinnati State building,
- Up to $1 million for supportive development activities and public improvements
“This investment reflects a strong partnership and shared commitment to the betterment of the city,” Ashley Combs, Middletown city manager, said in a city press release. “The heartbeat of our urban core will only grow stronger thanks to the support we’ve received from the (commissioners) today.”
Butler County Commissioner Cindy Carpenter told Journal-News she was “really happy” the commissioners chipped in $5 million.
“We heard the city leaders say that they have ... three buildings empty on one corner in the downtown area, so that’s unfortunate, and it just needs to be revitalized,” she said.
She added she is “excited” Middletown is working with Smith to reach out to other parts of the county and solicit investments.
“He’s got the expertise, and they have a model with what they’ve done in Hamilton,” Carpenter said. “Hopefully that can be imported (in Middletown), and we’ll see some vibrancy come back to the downtown area again.”
About the Author
