ASHLAND -- The City of Ashland's leadership anticipates 192 market-rate, multi-family apartments will soon be constructed near George Road in Ashland.
Ashland City Council unanimously approved a resolution in support of the proposed $44 million project Tuesday, assisting the developer in securing up to half of the financing via bonds with the Development Finance Authority of Summit County.
"We are not obligating the city to anything. We are simply going on record that the community supports the project," Miller said.
The legislation allows Mayor Matt Miller to sign a cooperative agreement in connection with the project.
By using the financing available through the Development Finance Authority of Summit County, the developer will qualify for a sales tax exemption on construction materials. It potentially saves the developer $790,627, according to Miller.
"We are not part of the financing of the project, but the local political jurisdiction must demonstrate its support of the project," he said.
The Development Finance Authority of Summit County is expected to charge an administration fee to the developer. The city would qualify to receive approximately $30,000 of the fee.
Vision Acquisitions bought the nearly 12 acre property for $1,428,000 from the Ashland Development Company in October. The property's address will be 1800 Arrowhead Way. It is positioned near the new OhioHealth Ashland Health Center.
In other news from Tuesday's meeting:
- Ashland City Council approved spending up to $260,000 to complete environmental remediation and waste disposal at the former Pump House property on Fourth Street.
The materials under a tarp at the property are expected to be removed as early as tomorrow by noon.
- Council approved legislation allowing the mayor to advertise for bids and enter contracts for the purchase of supplies and materials for the city of Ashland.
- The mayor now estimates that demolition at the former Hess and Clark building will begin by late next week. There will be an attempt to remove a few items of historical prominence -- a fireplace, corner stones and a few other items -- before demolition begins.
The developer has shifted its plans to build a data center to "a bigger investment," Mayor Miller said Tuesday.
He asked the community to stay tuned for further information.
- The city of Ashland reminded residents that political yard signs should be removed. Mayor Miller said, the existing city legislation allows signs to stay posted no more than 10 days after the general election.
The city will look to issue formal citations if signs are not taken down.
- Mayor Miller will deliver the annual state of the city address at 7 p.m. Thursday, Jan. 21. It will be a virtual event, which can be viewed from the city's Facebook page.