Panel Urges $5 Million Grant For Interchange

Economic report to county commission

(Thursday, May 15, 2003) - Montgomery County's Economic Development/Government Equity Advisory Committee recommended Wednesday the county approve $7 million in economic development grants, including $5 million for an Interstate 75 interchange at Austin Pike.

The committee will submit the list to the Montgomery County Commission for final approval Tuesday.

The committee urged $2 million for 10 projects as part of its spring funding cycle. Projects included $650,000 for two projects at the Miami Valley Research Park, $250,000 to help relocate a business from a building adjacent to the Arcade, $150,000 for a 50-bed acute rehabilitation hospital at Elizabeth Place, the former Franciscan Medical Center, and $90,000 for a reuse plan for the Fraser Paper Mill in West Carrollton.

The money for the interchange was approved separately. The money would be distributed over three years, with the first installment of $2.5 million coming from the ED/GE program's opportunity reserve fund. The project will receive another $1 million this year, and $750,000 in 2004 and 2005.

The total cost of the project is estimated at $30 million. The Ramp-Up partnership between the Miami Valley Regional Planning Commission and the Dayton Area Chamber of Commerce has requested $7.5 million in federal money for the project and the state is expected to contribute $15 million. The remaining $7.5 million is expected to come from local sources.

Steve Stanley, executive director of the Montgomery County Transportation Improvement District, told the committee most of the money would be used for property acquisition near the interchange. Local support could also help the project gain final approval from the state.

Other projects that were recommended for funding included:

• $180,000 for the Vandalia pharmaceutical company Eurand to build a production plant for its quick-dissolve technology.

• $250,000 to help finance site improvements needed if the General Services Administration leases 50,000 square feet in 3100 Research Blvd. in the Miami Valley Research Park.

• $125,000 for building improvements at Stanhope Desiccant in Brookville.

• $100,000 for renovations at Dayton Polymeric Products.

• $295,000 to help MOTO Franchise Corp. modernize its Trotwood headquarters.

• $210,000 to allow the Mound in Miamisburg to decentralize its utilities in order to convert buildings into commercial office space.

• $400,000 to extend Founders Drive in the Miami Valley Research Park.

Projects that were not recommended for funding include an economic impact study for a sports and fitness complex in Kettering and matching funds for the Wright Brothers Institute.

CONTACT Staff Writer Shannon Joyce Neal at 225-2436.

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