It's being described as a once in a lifetime opportunity.

"To me it's a very win win win situation," said Paul Thrift.

Last month developers Thompson Thrift, along with Gibson Development placed a more than $9 million deal on the table.

The developers proposed to purchase the existing Vigo County Fairgrounds.

The offer would swap 111 acres of land owned by the Wabash Valley Fair Association for $9.2 million and 72 acres of land.

"There is property to the west that will house a portion of the new facility that will be traded for property to the east plus a cash payment to them," Thrift said.

The proposal, which was turned down by the Fair Board was more a jumping off point than an end all be all says Thrift.

"They have chosen and I think rightfully and wisely to form a committee to look at the value of their property and look at what they want out of a new facility and what that would cost and to me that's exactly the steps to take and what we suggested and desired they take."

And while a lot of the talk surrounding the developers has been which big new retailer will be added at the US-41 location when the deal is done Thrift says the main goal is a new fair facility that will benefit the whole community.

"To me the vision is a new fair facility now how you get there is by capturing that equity in that property and being able to fund that new fair facility."

And Thrift says economic growth wouldn't hurt either.

A committee has been formed by the Fair Board to explore their options.

Until then Thompson Thrift will wait, but they did tell us they have been speaking with interested retailers.