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Finance committee advances 22 Market Street redevelopment discussion as city weighs support
Summary
Committee members pressed developers on delays to the long-running 22 Market Street project while staff said an outside investor and state grants have shored up financing for the $18 million rehabilitation and a $2.3 million purchase price; administration said it may bring legislation seeking council support later.
The Youngstown City Council Finance Committee on Jan. 7 pressed project leaders for clarity on the long-running 22 Market Street redevelopment and heard from city staff that outside investors and state grants have reduced financing risk.
Councilwoman Samantha Turner asked whether the committee should be confident in the developer after a series of starts and stops. “I wanna know how confident we are in this developer and then moving forward with us taking these steps,” she said. Finance Director David Smallwood told the committee an outside investor “in Orange, Connecticut” has vetted the redeveloper and the financing…
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