YOUNGSTOWN, Ohio (WKBN) – When the Covelli Centre opened 17 years ago, the City of Youngstown was saddled with a $11.9 million loan to get it built. Within 13 months, the loan will be paid off.
Youngstown City Council this evening passed an ordinance allowing the city administration to make a $1.7 million payment in January and another $1.7 million in January 2024, after which the loan on the Covelli Centre will be paid in full.
“Kudos to our finance director Kyle Miasek and those who came before him over the last handful of years who really are the ones who worked towards this great accomplishment,” said 5th Ward Councilperson Lauren McNally.
Youngstown City Council also approved $187,000 in American Rescue Plan money for the regional chamber to create a site readiness program and another $100,000 in ARP money will go to renovate the Foster Theater.