Board of Control Approves Amphitheater Work
YOUNGSTOWN, Ohio – Youngstown’s Board of Control has approved two agreements related to the city’s amphitheater and riverfront park project.
The U.S. Department of Housing and Urban Development last week approved the city’s application for a $4 million loan guarantee for the project, which is projected to cost $9 million.
During this morning’s meeting, the board members – Mayor John McNally, Law director Marty Hume and Finance Director David Bozanich – voted to enter into a license agreement with Norfolk Southern Railway Co., whose rail line crosses the property where the city is developing the park and amphitheater.
The city, which is replacing a sewer line that cuts across the project site, will pay Norfolk Southern a one-time fee of $51,000 for permission to work on the railroad’s property.
In addition, the city approved a change order to its contract with Brownfield Restoration Group LLC, Akron. The change added $96,742 to the contract for $171,031 the city approved in 2012 for cleanup of the former Wean United building property, which is part of the project site.
The addition was requested because of higher costs for engineering services provided by subcontractor MS Consultants, Youngstown.
“There was a lot of additional engineering work that needed to be done because of the sewer,” T. Sharon Woodberry, the city’s director of community planning and economic development, said.
Bids will be let Nov. 14 for the sewer line replacement, Chuck Shasho, deputy director of public works, said. Work likely will get under way in early 2018.
“It’s a good winter project,” he remarked.
In other business, the board authorized disbursement of a $4 million float loan to Youngstown Campus Associates LLC, which is developing the Enclave student housing complex at Youngstown State University.
The board earlier approved a development agreement with Youngstown Campus Associates, a subsidiary of LRC Realty, Akron. Now that the developer has submitted its letter of credit guaranteeing repayment of the loan, the city approved today’s item for disbursement of the loan funds, Hume said. The loan is for 12 months at 0.25% interest.
The board also approved a development agreement between the city and Potential Development to support its renovation project at 2405 Market St. The agreement authorizes a water infrastructure grant of up to $60,000 to cover eligible expenses.
The project investment is approximately $510,000, and Potential Development expects to retain 87 jobs and create another 30 within three years.
Copyright 2024 The Business Journal, Youngstown, Ohio.
