MORE : Middletown ready for next phase of Yankee Road reconstruction
The project consists of a total reconstruction of the roadway, including widening, realignment, water main replacement, storm sewer improvements and traffic signal replacement. In addition, the roadway will have heavy-duty pavement to accommodate truck traffic, according to city officials.
The Yankee Road project will complement the $6.5 million two-mile widening and reconstruction of Oxford State Road from Yankee Road to Spurlino Materials, which is projected to be completed in late 2017.
Council is also expected to approve a tax abatement to redevelop a building in downtown Middletown.
Richard and Lydia Montgomery, who own three local small businesses in Middletown, are seeking a 12-year, 100 percent Community Reinvestment Area tax abatement for their project at 1201 Central Ave.
MORE: Local couple seeks tax break to redevelop Middletown building
The Montgomerys are proposing to redevelop the three-story building into a retail bicycle shop on the ground level to be called Spoken Bicycles LLC and will transform the upper level into a single family residence.
The total investment by the Montgomerys for the property and building improvements will be about $180,000, according to city documents.
Council is also expected to give final approval to sell a building on First Avenue for about $11.
The city received a proposal from Patrick Klancar, owner of MJK Management LLC of Middletown, who said he’d be willing to purchase the property at 1200-1204 First Ave. for $11.39.
MORE: Middletown considers $11 offer for vacant building
While selling this fixer-upper for $11.39 may seem to be a bargain, Klancar said the estimated cost to revitalize the building is about $50,000 with contingencies to create three market-rate apartments on the upper level and three small storefront businesses at the street level. One of those businesses would be his property management office.
City Manager Doug Adkins said Klancar came to the $11.39 amount after taking the Butler County Auditor’s last appraisal of the property and deducting the costs in bringing the building up to current building standards. Adkins said this was preliminary proposal and that a structured development agreement would be developed that would include credits for work done.
Council meets at 5:30 p.m. today at the Middletown City Building.
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