FACILITIESAPPROVED

City of Sunbury Agenda May 20, 2026

Sunbury, Romanelli ink Kintner Crossing road agreement

Reimbursement up to $830,000 for 50% of eligible public improvement costs plus 6% annual interest on unpaid balance; initial payment $200,000Town of SunsburyROMANELLI SCHROCK ROAD INVESTMENTS LLCMay 20, 2026

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Description

Sunbury entered into a development agreement with ROMANELLI SCHROCK ROAD INVESTMENTS LLC for the Kintner Crossing commercial project, under which the developer will build and dedicate major roadway improvements and receive up to $830,000 in cost reimbursement with interest. The agreement leverages tax increment financing and a new community authority charge to fund public infrastructure supporting the development.

Contract Details

Contract Amount

Reimbursement up to $830,000 for 50% of eligible public improvement costs plus 6% annual interest on unpaid balance; initial payment $200,000

Vendor

ROMANELLI SCHROCK ROAD INVESTMENTS LLC

Agency

Town of Sunsbury, OH

Contract Type

FACILITIES

Document Date

May 20, 2026

Contract Term

Reimbursement period tied to life of TIF exemption (up to 10 years per parcel) and 30-year NCA charge; agreement effective upon final signatures in 2026

Renewal Info

One-time development agreement effective until all obligations are satisfied; includes TIF-based reimbursement mechanism and 30-year NCA community development charge, with forgiveness of unpaid reimbursement if TIF revenues are insufficient at expiration.

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