City Approves $75K Contract with 20 Federal Place Consultant

YOUNGSTOWN, Ohio – The city’s Board of Control approved a new agreement with Steadfast City Economic & Community Partners, the company it has been working with since 2020 on the redevelopment and sale of 20 Federal Place.

Under the contract, which was approved Thursday morning, the city will pay the St. Louis-based consultant $215 per hour, up to $75,000, to provide technical assistance and strategic counsel including but not limited to matters related to the city-owned building at 20 W. Federal St.   

Steadfast began working with the city on 20 Federal Place in 2020 under an Appalachian Regional Commission initiative to assist with the redevelopment and sale of the 332,000-square-foot building.

The city approved paying Steadfast a total of $97,000 in 2021 and another $75,000 in 2022, city Finance Director Kyle Miasek said. The new $75,000 contract will reimburse expenses going back to May.

The agreement is an extension of the city’s previous contract with Steadfast City to provide the same services, said Katie Ward, senior project manager with the company.

In March, the city contracted with Daniel A. Terreri & Sons Inc. for demolition and environmental remediation work at the city-owned building using $6.9 million in state brownfield remediation grant funds the city and Mahoning County Land Bank were awarded.

The company has 225 days from the start of work in the spring to complete the work, which includes demolition of a three-story addition at the northwest corner of 20 Federal. That portion of the contract is expected to get underway soon.

“The demolition and remediation work is progressing well, with no major delays or issues encountered yet,” Ward said. “We are still anticipating a completion date by the end of 2023.”

Steadfast City also is working with the city on applications from the State Historic Tax Credit and Transformational Mixed Use Development Tax Credit programs. The project team is reviewing the applications for TMUD, which is due in September, and HTC, which has an October deadline. 

What had been estimated in 2021 to be a $34 million renovation project has ballooned to more than double that, according to more recent proposals.

“The city remains optimistic and determined to secure private and public dollars to support this project,” Ward said.

Copyright 2024 The Business Journal, Youngstown, Ohio.