Economic Development

Board of Control OKs Amphitheater, Wick Tower Items

YOUNGSTOWN, Ohio – The city will acquire the former St. Vincent de Paul Society kitchen for potential development related to the riverfront park/amphitheater project.

The Board of Control this morning approved paying up to $79,000 to purchase thbuilding at   208 W. Front St. The society moved to 252 E. Wood St. because of structural issues at the site.

The city expects to take possession of the property , which is across the street from the site of the park and amphitheater under construction, within the next 60 days, Law Director Martin Hume said. The proximity “makes it a good target for development,” he said.

The city will try to turn the property over to another owner for development, and, if that is unsuccessful, demolish it, Mayor John McNally said.

Repairs were too expensive for the society, but the cost might not be out of reach for another entity.

“Another party might like to keep the building,” McNally said.

Site preparation is  underway at the park and amphitheater project and the city will put out for bid Nov. 14 sewer infrastructure work. That contract will be awarded in December.

In other action, the board approved amending the city’s lease with Wick Properties LLC to correct a clerical error that resulted in the partnership overpaying the city for use of a chiller for Wick Tower. Wick Properties is a subsidiary of NYO Property Group, which owns and manages several buildings in the downtown area.

“There was a formula for calculating the electric cost that they were going to pay to the city,” Hume said. The clerical error – the misplacement of a decimal point – resulted in Wick Properties paying 10 times the amount that they were supposed to.

“Eventually it was caught and corrected,” Hume said. The item approved today specifies paying $13,913,01 to Wick Properties to correct the error.

Published by The Business Journal, Youngstown, Ohio.