Putnam Fairgrounds Has New Developer Interested In Optioning Property

Putnam County Commission will consider a new potential buyer for the old Putnam County Fairgrounds.

Mayor Randy Porter said this comes after a previous developer had a year-long option that was affected by the economy and inflation. He said that developer E2L out of Florida has expressed interest in moving forward with a six-month option on the property.

“Looking at general commercial but they don’t have a master plan yet he’s working on that,” Porter said. “It will be a mixed-used. He’s looking at retail, medical, a high-end office space, restaurants.”

Porter said the developer is in talks with several retailers about coming to the property. Porter said the next six months will be key to figuring out how to proceed after performing due diligence studies.

“They offered us the same what it’s appraised at which is $12,420,000, so that’s what their option will be for the same price,” Porter said. “So we feel good about that. That even though we’ve had some problems in the economy they were still willing to offer the same price. So we’re looking forward to moving forward with it.”

Porter said if everything works out, the developer will have the choice to either buy the property or extend the option another six months. He said the county commission will vote on approving the developer at its meeting Monday night.

Porter said if the option is approved he and County Attorney Jeff Jones will move forward with the paperwork.