BOYD COUNTY, KY (WOWK) – With a 3 to 1 vote Tuesday, Boyd County Fiscal Court approved a motion to tentatively accept an offer of $5 million from Revolutionary Racing LLC to purchase the former Sears building and property surrounding Camp Landing.

This agreement will allow the company to reserve the right to compete against any other offers.

“We are committed to putting down roots in Boyd County and know what this $55 million investment will mean to the community,” said Revolutionary Racing LLC spokesperson Steve Patterson. “We appreciate the support shown by Judge Chaney and the Commissioners throughout this process and look forward to working with them for many years to come.”

Judge-Executive Eric Chaney says the sight of the new farmers market is excluded from this transaction.

County Commissioner Larry Brown commented on the original plan for the building, which was to build a convention center next to Camp Landing.

Chaney says the bond money the county received in 2021, expected to be used to construct the center, will still be used for that purpose. However, at this time, it will not be built at the former Sears location.

No further updates on where the new convention center could be built have been released at this time.

“Don’t write off a convention center in Boyd County, Kentucky. Don’t write that off as something that’s not going to happen. That’s where those funds are allocated to and that’s where they will be going,” Chaney says Tuesday during the fiscal court meeting.

Chaney also says this deal will not be finalized until March 2023.

13 News has reached out to Revolutionary Racing LLC for a comment on this matter but has not heard back yet.