Table of Contents
Mingo Junction is facing a significant financial shortfall that is impacting its development strategy for several parcels on Commercial Street. The village had planned to demolish three derelict buildings to make way for new development, but rising costs have forced a reevaluation of the project.
Key Takeaways
- Mingo Junction plans to demolish three buildings on Commercial Street as part of a redevelopment strategy.
- A financial shortfall has led to increased costs for the demolition project.
- The village is seeking a developer to take on additional site preparation work.
Financial Challenges Ahead
The Village of Mingo Junction is grappling with a financial shortfall that has necessitated a change in its approach to redeveloping six parcels on Commercial Street. The parcels, currently occupied by three buildings at 637, 645, and 655 Commercial St., are set for demolition through the Jefferson County Land Bank. Mayor Judy Ruckman had envisioned these parcels as shovel-ready sites for future development, but the costs associated with making them ready have proven to be a hurdle.
Jefferson County Land Bank Director Tabatha Glover explained that the current estimates for demolition do not include the necessary preparations to make the sites shovel-ready. This means that the foundations of the buildings will remain partially intact, which could complicate future construction efforts.
Cost Implications
The demolition project is partially funded by a grant from the Ohio Department of Development’s Building Demolition and Site Revitalization Program, which covers 75% of the costs. However, the village is responsible for the remaining 25%. With the anticipated increase in demolition costs, Mingo Junction will need to find additional funds to cover the shortfall.
- Current Funding Structure:
- Grant Funding: 75% from Ohio Department of Development
- Village Contribution: 25% of the total cost
Strategic Shift in Development Plans
In light of the financial constraints, Mayor Ruckman has decided to shift her focus toward securing a developer who can commit to the project before the demolition is completed. This strategy aims to have the developer handle the additional work required to make the parcels shovel-ready, which could ultimately save the village money.
Ruckman stated, “If I can save somebody from having to come back and dig it up and haul it away, I will try.”
Ongoing Redevelopment Efforts
Despite the financial challenges, Mingo Junction is moving forward with its redevelopment planning. The village has secured a $30,700 technical assistance grant from the Mayor’s Partnership for Progress to work with CT Consultants on a market analysis and redevelopment plan for the parcels. This process, which began in November, is expected to last five months and includes:
- Collecting market data
- Conducting site visits
- Interviewing local stakeholders
The firm will also conduct a full site review once the demolitions are complete. Bid openings for the demolition work are anticipated for March 4, with the goal of completing the demolitions by August.
Conclusion
While the financial shortfall presents a significant challenge for Mingo Junction, the village remains committed to revitalizing the Commercial Street area. Mayor Ruckman expressed her gratitude for the progress being made, stating, “I’m just happy they’re going down. I’m grateful and thankful for all parties that made this happen.”
Sources
- Financial shortfall affects Mingo Junction development strategy | News, Sports, Jobs – The Herald Star, heraldstaronline.com.