Explanation
BACKGROUND
On July 14, 2011, Wagenbrenner Development, Inc., through an affiliated entity, acquired the former Timken property with plans to remediate and redevelop the property.
In support of Wagenbrenner Development, Inc.’s redevelopment of the former Timken property, the City, through the Department of Development, made application to the Ohio Department of Development for a Clean Ohio Revitalization Fund (CORF) grant, under the authorization of Ordinance No. 1002-2011, passed by its Council on July 13, 2011. The City was awarded the CORF grant and subsequently entered into agreement with the Ohio Department of Development, under the authorization of Ordinance No. 2146-2011, passed by its Council on December 7, 2011, through which the City agreed to receive and administer up to $3 million in CORF grant funds for Wagenbrenner Development, Inc.’s clean up and redevelopment of the former Timken property.
On March 26, 2012, pursuant to Ordinance No. 1002-2011, passed by City Council on July 11, 2011, the City entered into an Agreement of Understanding with Wagenbrenner Development, Inc., through which the City agreed to fulfill its obligations under the terms of the Clean Ohio Revitalization Fund (CORF) grant and to complete certain roadway and other public right-of-way improvements.
As part of the City’s ongoing support for Wagenbrenner Development, Inc.’s redevelopment of the former Timken site, known by the City’s project name “NCR-Milo Grogan”, the City, through the Department of Public Service, applied for and received funding from the Ohio Public Works Commission’s (OPWC) Rounds 26 and 27 Local Transportation Improvement Program (LTIP) and State Capital Improvement Program (SCIP) in the amounts of $1,099,999.00 and $3,042,616.00, respectively, to fund public infrastructure improvements for the NCR-Milo Grogan project.
This ordinance authorizes the Director of the Department of Public Service to enter into a design guaranteed maximum reimbur...
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