Montgomery County has sold its fairgrounds to the University of Dayton and a Premier Health Network.
The university and Premier Health both signed a letter of intent in December to buy the Montgomery County Fairgrounds near Dayton.
The university and Premier will each pay $5.25 million of the purchase price.
Montgomery County is giving the institutions $2 million to restore and reuse a historic roundhouse on the property, and the Dayton-Montgomery County Port Authority is contributing a $2.5 million state grant to revitalization efforts.
University and hospital system officials say they don't have specific plans for the 38-acre (15-hectare) property yet. But they say they want to redevelop it in a way that will help the institutions and the community.