City Approves V&M Reimbursement Agreement
YOUNGSTOWN, Ohio – The Board of Control approved a reimbursement agreement with V&M Star, using funds from the American Recovery and Reinvestment Act, to assist V&M Star with the relocation of several Norfolk Southern rail lines on the V&M property.
In addition to the $2 million for the rail relocation, $500,000 will be expended to assist with relocating or closing at-grade crossings throughout the state on behalf of the Ohio Rail Commission to allow the railroad to be more efficient at how it transports materials, said David Bozanich, city finance director.
The city also will use part of the funds V&M is paying the city through its long-term lease agreement to pay for demolitions. At the Thursday meeting, the city approved contracts totaling nearly $144,000 to demolish 48 houses.
Mayor Charles Sammarone has “made it a priority to place some of those funds into the demolition budget so that we can tear more homes down and improve the neighborhoods in the city,” Bozanich said.
The goal is to demolish about 1,000 properties this year, Sammarone said. “If we don’t run out of money I feel very strongly that we’ll meet that,” he predicted.
Other money from the $2.857 million the city will receive annually over the first three years of the agreement will be used for economic development as well as to offset infrastructure costs at the V&M site.
Additionally, the board approved paying $10,994.65 in severance for Bozanich, who retired effective Dec. 28, but was rehired by the city to serve though the end of this year. According to Bozanich, changes to the Ohio Public Emplyees Retirement System “pretty much mandated that anybody with 30 years or more retire.” Bozanich has been a city employee since 1979.
Bozanich said Sammarone asked him to stay on through the end of his term this year to finish the budgeting process and continue working with V&M as well as on other economic development projects.
Bozanich’s knowledge of the city’s finances is “very important,” Sammarone remarked. He also noted that Bozanich has “a good rapport” with V&M. “Dave’s been very important in working with them,” he said.
“We don’t always agree but we know how to accomplish things,” the mayor said.
Bozanich has led the city’s economic development efforts since the 1980s. He noted that he negotiated the land deals for the city’s business parks, including its first, the Salt Springs Road Business Park, and the negotiated the projects built on those sites.
About half of the revenue the city brings in through its income tax is from projects the city did, he said. “But for that, there’d be a lot less people working in this community,” he said.
Copyright 2013 The Business Journal, Youngstown, Ohio.
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YOUNGSTOWN, Ohio – The Board of Control approved a reimbursement agreement with V&M Star to funds from the American Recovery and Reinvestment Act to assist V&M Star with the relocation of several Norfolk Southern rail lines on the V&M property.
In addition to the $2 million for the rail relocation, $500,000 will be expended to assist with relocating or closing at-grade crossings throughout the state on behalf of the Ohio Rail Commission to allow the railroad to be more efficient at how it transports materials, David Bozanich, city finance director, said Thursday.
The city also will be using part of the funds V&M is paying the city through its long-term lease agreement to fund pay for demolitions. At the Thursday meeting the city approved contracts totaling nearly $144,000 to demolish 48 houses.
Mayor Charles Sammarone has “made it a priority to place some of those funds into the demolition budget so that we can tear more homes down and improve the neighborhoods in the city,” Bozanich said.
The goal is to demolish about 1,000 properties this year, Sammarone said. “If we don’t run out of money I feel very strongly that we’ll meet that,” he predicted.
Other money from the $2.857 million the city will receive annually over the first three years of the agreement will be used for economic development as well as to offset infrastructure costs at the V&M site
Additionally, the board approved paying $10,994.65 in severance for Bozanich, who retired effective Dec. 28, but was rehired by the city to serve though the end of this year. According to Bozanich, changes to the Ohio Public Emplyees Retirement System “pretty much mandated that anybody with 30 years or more retire.” Bozanich has been a city employee since 1979.
Bozanich said Sammarone asked him to stay on through the end of his term this year to finish the budgeting process and continue working with V&M as well as on other economic development projects.
Bozanich’s knowledge of the city’s finances is “very important,” Sammarone remarked. He also noted that Bozanich has “a good rapport” with V&M. “Dave’s been very important in working with them,” he said.
“We don’t always agree but we know how to accomplish things,” the mayor said.
Bozanich has been at the lead of much of the city’s economic development efforts since the 1980s. He noted that he negotiated the land deals for the city’s business parks, including its first, the Salt Springs Road Business Park, and negotiated the projects on those sites. About half of the revenue the city brings in through its income tax is from projects the city did, he said. “But for that there’d be a lot less people working in this community,” he said.
YOUNGSTOWN, Ohio – The Board of Control approved a reimbursement agreement with V&M Star to funds from the American Recovery and Reinvestment Act to assist V&M Star with the relocation of several Norfolk Southern rail lines on the V&M property.
In addition to the $2 million for the rail relocation, $500,000 will be expended to assist with relocating or closing at-grade crossings throughout the state on behalf of the Ohio Rail Commission to allow the railroad to be more efficient at how it transports materials, David Bozanich, city finance director, said Thursday.
The city also will be using part of the funds V&M is paying the city through its long-term lease agreement to fund pay for demolitions. At the Thursday meeting the city approved contracts totaling nearly $144,000 to demolish 48 houses.
Mayor Charles Sammarone has “made it a priority to place some of those funds into the demolition budget so that we can tear more homes down and improve the neighborhoods in the city,” Bozanich said.
The goal is to demolish about 1,000 properties this year, Sammarone said. “If we don’t run out of money I feel very strongly that we’ll meet that,” he predicted.
Other money from the $2.857 million the city will receive annually over the first three years of the agreement will be used for economic development as well as to offset infrastructure costs at the V&M site
Additionally, the board approved paying $10,994.65 in severance for Bozanich, who retired effective Dec. 28, but was rehired by the city to serve though the end of this year. According to Bozanich, changes to the Ohio Public Emplyees Retirement System “pretty much mandated that anybody with 30 years or more retire.” Bozanich has been a city employee since 1979.
Bozanich said Sammarone asked him to stay on through the end of his term this year to finish the budgeting process and continue working with V&M as well as on other economic development projects.
Bozanich’s knowledge of the city’s finances is “very important,” Sammarone remarked. He also noted that Bozanich has “a good rapport” with V&M. “Dave’s been very important in working with them,” he said.
“We don’t always agree but we know how to accomplish things,” the mayor said.
Bozanich has been at the lead of much of the city’s economic development efforts since the 1980s. He noted that he negotiated the land deals for the city’s business parks, including its first, the Salt Springs Road Business Park, and negotiated the projects on those sites. About half of the revenue the city brings in through its income tax is from projects the city did, he said. “But for that there’d be a lot less people working in this community,” he said.