Board of Control Approves Agreements for Steelite, 20 Federal
YOUNGSTOWN, Ohio – The city’s Board of Control today approved a job creation grant agreement with Steelite international USA Inc. and contracts related to the 20 Federal project.
The approvals followed passage of ordinances at Wednesday’s meeting of City Council authoring the board to enter into the development agreements.
The agreement with Steelite, a global distributor of tableware based in New Castle, Pa., would provide the company a grant with an estimated value of $415,000 to relocate its global headquarters to two buildings controlled by the Youngstown Business Incubator downtown.
To receive the grant, Steelite must commit to relocating at least 60 full-time employees with an annual payroll of not less than $5 million no later than December of this year. The grant would provide annual payments based on payroll tax withholdings, ranging from 100% during the first year to 25% in its final year.
During the meeting, the board also moved forward on contracts related to the city’s efforts to redevelop 20 Federal Place.
Under the contract with Steadfast City Economic & Community Partners, the St. Louis consultant the city has worked with for more than two years on the project, the firm will provide technical assistance and strategic counsel including but not limited to 20 Federal. The firm will be paid $215 per hour up to $75,000.
The board also approved contracts with two separate firms to help secure federal and state historic preservation tax credits.
Desmone, the Pittsburgh architectural firm the city entered into a memorandum of understanding with in December, will be paid up to $935,380 to provide architectural, interior design, digital scanning, civil engineering, structural engineering, mechanical, electrical, plumbing and fire protection engineering services to help secure the tax credits.
Desmone previously assisted the city and the Mahoning County Land Bank with securing nearly $7 million in state brownfield remediation funds for 20 Federal.
“The city and Desmone’s collaboration on the redevelopment of 20 Federal Place grows stronger each week. We are all hitting the milestones we outlined in the development plan we proposed last year,” said Jim Ambrose, director of business development with Desmone. “As long as we continue to work together and meet our deadlines for the state’s financial incentives, I am confident we will deliver a project that the Mahoning Valley will be proud of.”
HP Group LLC, Cleveland, will provide historic preservation consulting services under its contract, which is not to exceed $168,000.
Pictured at top: 20 Federal Place.
Copyright 2024 The Business Journal, Youngstown, Ohio.
