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Elyria committee approves 50% reimbursement for Tokar Tower water‑damage overruns
Summary
The joint Community Development and Finance Committee voted Oct. 27 to approve a recommendation from the Elyria Economic Development Committee to reimburse Tokar Tower — the building at 124 Middle Avenue known as the Northwest Bank building — for 50% of cost overruns tied to a water‑meter replacement that damaged the building's plumbing.
The joint Community Development and Finance Committee voted Oct. 27 to approve a recommendation from the Elyria Economic Development Committee to reimburse Tokar Tower — the building at 124 Middle Avenue known as the Northwest Bank building — for 50% of cost overruns tied to a water‑meter replacement that damaged the building's plumbing.
Community Development Manager Grama Bayad introduced the request, saying the EEDC recommended funding 50% of the additional costs and that the city treat the payout as an extension of the original 2022 grant application rather than a new application. The reimbursement recommendation was framed so the…
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