Members of the Venango County Economic Development Authority discussed funding and other matters related to the 100 Seneca project at their monthly meeting Tuesday.
The authority voted Tuesday to accept a third Redevelopment Assistance Capital Program (RACP) grant of $1 million for the 100 Seneca building.
Diona Brick, the county’s chief financial officer, said it takes about 12 to 24 months from the time a RACP grant has been spent in its entirety before the state reimburses the money.
The first grant has been spent and the second is now being spent, Brick said.
Brick noted that the county has received $10,000 back from the charging station for electric vehicles on the 100 Seneca building.
In her report, Brick said the project is now projected to cost $12.589 million, and there is currently a shortfall of $3,865,062 to complete the project.
There is about “an 85% certainty” of a congressional earmark of about $400,000 for the project, Brick said.
Emily Lewis, executive director of the economic development authority, presented a document showing a number of grants she has applied for or is looking into.
“If we get everything we are looking at, there will be a shortfall of $500,000 or $600,000 maximum,” Brick said.
Lewis said she is always looking for grant money.
“I always keep looking for backup grant funding…The grant fundraising world is a little shaky, but it is easier to find alternate sources of funding,” Lewis said.
Lewis also presented a timeline for the different phases of construction for the old Mellon Bank building and the costs associated with each phase.
Lewis said Tuesday that Oil City mayor Bill Moon, county commissioner Albert Abramovic, Trenton Moulin, the president of Bridge Builders Community Foundation, Rod Griffin, Kim Reddinger and Peter Winkler have agreed to be on the subcommittee.
County commissioner Sam Breene said three pieces that make up the bare bones of the strategic plan are cash flow, construction and leasing the building. He added there is much more to it than that.
Breene said another benefit of the strategic plan is that if some members leave the authority and others take their place, they aren’t “left high and dry” because there is a long-term plan and vision written down.
In other business Tuesday, the authority approved a revised contract with Design Lab architects for revised drawings and documents to rebid the project to reduce the costs of what is being proposed.
Breene said the design kickoff for the first floor of 100 Seneca was held Monday.
“I never felt more strongly that it will be done and done beautifully in a timely manner,” Breene said.
The authority is still working with a prospective tenant for the first floor but no papers have been signed, Lewis said.
In other news, Lewis said the Hudson Group that applied three times to build senior housing in Cranberry Township and had its application rejected all three times said it won’t be applying again.
Economic committee member Bonnie Summers said she would like to see if there was a weakness in the application or if it was just a matter of some projects being picked and others not. She added that she knows what the strengths of the application were.
“We are still going on because the need in the area is great for moderate income living that is maintenance free for older people,” Summers said.
Looking ahead, Lewis said, “We are waiting for (Cranberry) township to take the lead on the project.”
