The owners of the new racino in Turtlecreek Twp. have agreed to donate $3 million to the county for redevelopment of the Warren County fairgrounds.

Miami Valley Gaming plans to announce today they have agreed to make a $1 million contribution in 2013 to the county to support redevelopment of the current Lebanon Raceway at the Warren County Fairgrounds. Miami Valley Gaming will also give an additional $500,000 per year for the next four years.

Commissioner Pat South said recently the county can apply for up to $3 million in redevelopment funds from the Ohio State Racing Commission and the old operators of the track have agreed to pay $500,000, to make up for money they couldn’t pay for maintenance and other upkeep when economic times were bad.

Once the Lebanon Raceway is vacated only the county fair will inhabit the 93-acre fairgrounds on Broadway in Lebanon. South said they will begin talks soon about how to redevelop the prime piece of real estate.

“Regardless of what occurs at the fairgrounds when the racing leaves, we are looking to redevelop the fairgrounds into anything that would become a financially self-sustaining event,” she said. “So it does not require county general fund financial support.”

Miami Valley Gaming, located at exit 29 off I-75, will include a 5/8-mile harness racing track and an 186,000-square-foot gaming facility on the 120-acre site. In addition to the $50 million video lottery terminal (VLT) license fee, Miami Valley Gaming will invest up to $175 million in the new facility, including the cost of VLTs.

Preliminary work is under way at the site of the new gaming and racing complex. It is expected to open during the first quarter of 2014. The project will create 1,000 construction jobs and 700 permanent jobs. The majority of jobs will be full time, and residents of southwest Ohio will fill roughly 95 percent of the positions created.