LIBERTY COMMUNITY AUTHORITY

2017 FINANCIAL INFORMATION

FOR THE YEAR ENDED DECEMBER 31, 2016

General Information

This Financial Information pertains to the Liberty Community Authority (the

Authority) for the fiscal year ended December 31, 2016. This Financial Information is
intended to satisfy the Continuing Disclosure obligations of the Authority to provide annual
financial information in compliance with Securities and Exchange Commission Rule 15c2-12 in
connection with the following issue:

Butler County Port Authority Public Infrastructure Revenue Bonds (Liberty Center
Project), Series 2014C (Liberty Community Authority), issued on November 12, 2014 in
the original principal amount of $20,180,000 (the Series 2014C Bonds)

All capitalized terms used and not otherwise defined herein shall have the meanings set
forth in the Official Statement related to such Series 2014C Bonds, dated October 29,
2014.

Questions regarding information contained herein should be directed to: Laura

Wedekind, Treasurer of the Authority, 4016 Townsfair Way, Suite 201, Columbus, Ohio 43219.

The date of this Financial Information is September 1, 2017.

*****************************
The Liberty Community Authority, the NCA

The Liberty Community Authority (the NCA), a body corporate and politic of the State
of Ohio, is a New Community Authority that was formed under Ohio Revised Code Section
349.03 for the purpose of furthering the development of the Liberty Center Project. The NCA
petition was filed on July 18, 2013 and it was determined by Resolution No. 13-07-03532
adopted by the Board of County Commissioners of Butler County, Ohio that such petition
complied with the Ohio Revised Code Section 349.03. The County Commissioners held a
hearing on the petition on August 22, 2013, pursuant to Ohio Revised Code Section 349.03 with
proper public notice. After the hearing, the County Commissioners declared on August 22, 2013
that the NCA duly organized as a distinct body politic and corporate separate and apart from the
County. The County has no vicarious responsibility for the debts or obligations of the NCA.
The NCA Board of Trustees is comprised of seven members, four members being appointed by
the County and three members being appointed by Libertytown, LLC.

[Remainder of page intentionally left blank]

 The current makeup of the NCA Board of Trustees is as follows:

Beau Arnason Developer Member

Jim Hartman Citizen Member
John Holcomb Citizen Member
Justin Leyda Developer Member
Philip Morrical Citizen Member
Karen Mueller Citizen Member
Laura Wedekind Developer Member

Pursuant to Ohio Revised Code Section 349.07, the NCA is permitted to pledge its
Community Development Charges to secure the debt service of any cost incurred by the NCA in
the exercise of the powers granted by Chapter 349 of the Ohio Revised Code.

NCA Revenues

Pursuant to the Funding Agreement, the NCA has pledged NCA Revenues to the Port
as security for the Series 2014C Bonds. NCA Revenues are the Assessed Valuation Charge, the
Facilities Charge and the Core Retail Assessed Valuation Charge (excluding the portion of the
Core Retail Assessed Valuation Charge necessary to pay NCA O&M) imposed by the NCA
pursuant to the Declaration of Covenants, Restrictions and Agreements for Liberty Community
Authority in the County of Butler, Ohio filed of record with the Butler County Recorder on
September 16, 2014 (the Declaration). The Assessed Valuation Charge and the Facilities
Charge are each a Community Development Charge pursuant to the Declaration. The
Assessed Valuation Charge is an annual charge based on the assessed value of each parcel within
the Site that is not owned by a political subdivision or governmental instrumentality equal to 10
mills (0.010% of the assessed value). The Assessed Valuation Charge was first levied and
collected in the fourth quarter of 2015. The Facilities Charge is a retail sales charge in the
maximum amount of one-half of one percent (0.5%) of the price paid by each customer on retail
sales in the Development. The facilities charge is a retail sales charge in the maximum amount
of one-half of one percent of the price paid by each customer on retail sales in the Development.
For purposes of the Series 2014C Bonds, the Core Retail Assessed Valuation Charge shall not be
levied and collected unless the Assessed Valuation Charges and Facilities Charges are
insufficient to cover debt service on the Series 2014C Bonds. With respect to collection of
community development charges, in the event a property owner does not remit such charges, the
NCA may certify the Assessed Valuation Charges and the Core Retail Assessed Valuation
Charges (if applicable) to the Butler County Auditor for collection on the tax duplicate. The
Facilities Charge shall be collected in accordance with the terms of the Declaration by the
Facilities Charge Administrator.

If the official assessed valuation of any parcel within the Site is reduced for any year
pursuant to the applicable provision of the Ohio Revised Code, the Assessed Valuation (as such
term is defined in the Declaration) shall be reduced in the same amount, and the Assessed
Valuation Charge for such year shall be proportionately reduced. If any part of the Assessed
Valuation Charge has previously been paid prior to the reduction, the owner may apply to the
Board of the NCA for a credit against Assessed Valuation Charges due or which will become
due in the future.

2
 Pursuant to the provisions of the Declaration, the Board of Trustees of the NCA may
waive, reduce or terminate all or a portion of the Community Development Charge for one or
more years or to a stated date or adjust the method by which it is calculated, provided, that no
waiver, reduction or termination shall be effective if it is inconsistent with the express
obligations of the NCA under the terms of the Series 2014C Bonds and related agreements and
obligations.

The actual NCA Revenues are as follows:

2015 2016 2017*

Assessed Charges $168,438 $673,752 $743,387
Facilities Charges 159,897 597,419 635,000
Core Retail Assessed Valuation Charges N/A N/A N/A
Available NCA Revenues $328,335 $1,271,171 $1,378,387
______
*Estimate