By Associated Press - Wednesday, January 25, 2017

DAYTON, Ohio (AP) - A southwestern Ohio county has agreed to give a university and a health care network $2 million if they buy the county’s fairgrounds and redevelop an historic roundhouse.

The Dayton Daily News (https://bit.ly/2jbzX6K ) reports the University of Dayton and Premier Health earlier signed a letter of intent last month to purchase the Montgomery County Fairgrounds for $15 million. County commissioners on Tuesday approved a purchase agreement for the 38-acre property.

UD and Premier agreed to pay $3 million when they close on the property and the remainder when they take ownership. But the two institutions will only have to pay $1 million of the initial $3 million if they commit to renovating or rehabbing the roundhouse building on the property.

The institutions have through February to terminate the agreement.

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Information from: Dayton Daily News, https://www.daytondailynews.com

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