BENWOOD - Benwood Solicitor Eric Gordon expects to learn this week whether Delta Demolition is OK with the city's latest resolution related to tearing down the old Bellaire Bridge.
During Tuesday's regular meeting, council members approved a resolution stating they agreed with the bridge's owner, Delta Demolition, creating an escrow account for the bridge work. But they added one motion to it - that the account bear only the city's name, meaning only the city could release the money.
Gordon said Delta's attorney will review the resolution and talk to the company's owner.
Photo by Shelley Hanson
A portion of the old Bellaire Bridge is located near Undo’s in Benwood. City Council wants its name only on an escrow account meant to protect Benwood from Delta Demolition’s possible failure to tear down the span in less than six months.
"I sent a draft of the resolution that council approved regarding the escrow agreement. I'm waiting to hear back from them," Gordon said.
The account would hold $500,000 of Delta's money, which would remain there until Delta is done tearing down the portion of the bridge over Benwood. If the work is not completed in the agreed to time frame - six months - the city gets to keep the money. If Delta finishes the job correctly, Benwood will return the money including any interest collected. Delta's tax identification number would be on the account because it will have to pay taxes on the interest. But only the city's signature could release the funds.
The resolution also calls for Delta to forfeit the scrap metal to the city if it fails to complete the job. In addition to the resolution, Gordon also will talk with the Delta about its subcontractors' insurance coverage.