- Advertisement -
  • Most Commentedmost commented up
  • Most Emailedmost emailed up
  • Popularmost popular up
- Advertisement -

« News Home

Youngstown council approves loans for 2 downtown projects

Published: Wed, February 19, 2014 @ 8:35 p.m.

YOUNGSTOWN — City council approved legislation today to loan $3.29 million to two companies rehabilitating vacant downtown properties.

Without the money, the projects wouldn’t happen or would have been delayed, officials with the two companies say.

Based on a recommendation from the administration, council voted to approve loans equalling 70 percent of state tax credits, at 3 percent interest, to the projects, both on West Federal Street.

The projects are:

• The $15.3 million conversion of the Wick Building into a 52-unit rental and extended-stay facility being done by the NYO Property Group, a major downtown property owner. The city will loan $2.59 million to NYO.

• The $4.4 million conversion of the Wells Building into the new headquarters of Strollo Architects with 12 apartments. The city will loan $700,000 to the project.

Also, council voted 4-3 to have Councilwoman Janet Tarpley, D-6th, replace Councilman Mike Ray, D-4th, as president pro tem. Ray along with Councilmen Paul Drennen, D-5th, and John R. Swierz, D-7th, voted against appointing Tarpley.

For the complete story, read Thursday’s Vindicator and Vindy.com


1YtownParent(1063 comments)posted 2 years, 5 months ago

Glad to see Capitalism is alive and well in Youngstown. NOT! There is a reason the free market enterprises aren't supporting these projects. Unfortunately, this kinda market manipulation by local, state and federal government is exactly why they economy is in the crapper.

Suggest removal:


HomeTerms of UsePrivacy StatementAdvertiseStaff DirectoryHelp
© 2016 Vindy.com. All rights reserved. A service of The Vindicator.
107 Vindicator Square. Youngstown, OH 44503

Phone Main: 330.747.1471 • Interactive Advertising: 330.740.2955 • Classified Advertising: 330.746.6565
Sponsored Links: Vindy Wheels | Vindy Jobs | Vindy Homes