City buys property to help V&M Star Steel

YOUNGSTOWN — The city purchased two key pieces of property, and is finalizing deals for two others, needed by V&M Star Steel for a potential major project.

The board of control agreed today to purchase 14.7 acres from Shelly & Sands for $404,800, and 33.5 acres from Norfolk Southern railroad. The board also approved extending a tentative agreement till Monday to purchase 80 acres from Brier Hill Slag Co. for about $3.9 million.

V&M officials are to approve a contract early next week reimbursing the city the money for the Shelly & Sands and the Brier Hill purchases, said Finance Director David Bozanich, a board of control member.

The city won’t close the deals to buy the parcels without the approval of V&M Star, he said.

Also early next week, the city will finalize the purchase 15 acres at the former Dempsey Steel facility for about $360,000 with V&M reimbursing the cost, Bozanich said.

The properties needed by V&M for a potential $970 million expansion project are near its Martin Luther King Jr. Boulevard facility.

All of the property is on Youngstown’s North Side or in Girard.

For the complete story, read Friday’s Vindicator or Vindy.com