The Delaware County Redevelopment Commission on June 12 delayed final approval for the Park 1 second-entrance contract after staff reported bids came in above estimates and questions remained about how to fund the roughly $3,000,000 project.

Commissioners and staff said the low bidder had proposed financing and delayed-payment options and that rejecting and rebidding the project in six months would risk higher prices. The commission voted to keep the item on the table and directed staff to provide additional documentation on bond proceeds, TIF balances and an agreement tied to a rail spur sale.

Why it matters: The commission must identify an available funding source before committing TIF or bond proceeds. Staff told the board an alleged $1,500,000 down payment linked to SRM’s purchase of the county rail spur may have been intended to fund the Park 1 entrance; the commission asked staff to obtain the SRM agreement and a ledger showing how bond, lease and TIF receipts would flow into the project.

What officials said and did: Staff reported that earlier value-engineering meetings did not identify sufficient savings and that the project remains “about a $3,000,000 project,” with the closest bid from a contractor identified in the packet as “3 D.” Staff said the bidder offered a financing option and a delayed-payment schedule, and that Yorktown — which annexed the property — might be able to participate but would require separate conversations.

On bonds and TIFs, staff said the 2022 bond associated with the project may have between $1,400,000 and $1,600,000 remaining; the record shows conflicting figures reported by two county finance contacts and staff asked to reconcile them. Staff also said American Rescue Plan (ARP) funds originally proposed for the entrance were removed in an amended ARP allocation, leaving TIFs and bond proceeds as likely funding sources.

The commission voted to table the item to the next meeting and to seek: (1) a copy of the SRM rail-spur purchase/lease agreement and documentation of the $1,500,000 down payment and annual lease receipts; (2) a ledger showing the project cost, payment schedule and potential TIF, bond or other sources; and (3) confirmation of bid validity dates and any written extension from the low bidder. A staff member reported a contractor contact indicated the bid could be extended 30–45 days and said a letter granting more time was possible.

Next steps: Staff said it will obtain the SRM agreement and bond detail and forward them to commissioners before the next meeting. The commission left the bid open while it verifies funding and payment timing.