City of Sunbury Agenda May 20, 2026
Kintner Crossing Roadwork Deal with Romanelli Approved
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Description
Sunbury approved a development agreement with ROMANELLI SCHROCK ROAD INVESTMENTS LLC for the Kintner Crossing commercial project, under which the developer will construct major public roadway improvements. The city will reimburse up to $830,000 of eligible costs, including a $200,000 initial payment and subsequent TIF-funded installments with 6% interest on the unpaid balance.
Contract Details
Contract Amount
Reimbursement up to $830,000 plus 6% annual interest on unpaid reimbursement amount
Vendor
ROMANELLI SCHROCK ROAD INVESTMENTS LLC
Agency
Sunbury village, OH
Contract Type
CONSTRUCTION
Document Date
May 20, 2026
Contract Term
Reimbursement period tied to life of TIF exemptions and availability of TIF Fund revenues; development agreement effective until all obligations satisfied
Renewal Info
Agreement remains in effect until all obligations, including TIF-funded reimbursement up to $830,000 plus interest, are satisfied or TIF revenues expire; unpaid reimbursement at TIF expiration is contractually forgiven.
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