Inside the Lebanon Racino
After months of negotiations, Warren County officials and the Miami Valley Gaming racino reached a multi-million dollar tax deal Thursday.
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LEBANON, Ohio -- After months of negotiations, Warren County officials and the Miami Valley Gaming racino reached a multi-million dollar tax deal Thursday.
The $19 million property tax deal includes a provision that would send about $5 million over 10 years to area school districts.
Warren County commissioners were adamant that the racino pay for itself, including improvements to the area due to the influx of traffic.
Miami Valley Gaming agreed to contribute $3 million to the redevelopment of the Warren County Fairgrounds. The facility lost its biggest tenant when the live harness racing was moved out of Lebanon to the racino.
Officials said the county agreed to reimburse Miami Valley Gaming $12 million it committed to on the development from $16 million in property taxes on the $110 million development set aside for infrastructure improvements.
The county gets the other $4 million.
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