Bridge demolition project takes yet another twist, but we’re mostly past caring.
It’s a project that has been on and off more times than Elizabeth Taylor’s wedding ring; in fact, it dates back that long that the world still had a viable economy when it first started. But while the global economy has fallen, the Bellaire Bridge remains resolutely in place. And now, the whole sorry episode has taken on a strange “show me yours and we’ll show you ours” taint.
Benwood City Council members want Delta Demolition to produce $500,000 in cash to show it has the means to finish tearing down the old Bellaire Bridge.
During a regular meeting Tuesday, council offered up the terms to the Virginia-based company’s attorney, Jeremy Domozick. Council wants Delta to give the city $500,000 in cash to keep while the company razes the bridge portion that stands above the city. That way, if Delta cannot finish the project, the city can keep the money. If Delta does finish the project, the firm gets the money back with interest, said Frank Longwell, police chief and development director.
It was unclear what the city would do with the money if the firm would default on the project.
Council previously wanted Delta to obtain a $1 million performance bond for the demolition, but Domozick described the project as “not bondable.” In addition to the $500,000 in cash, if Delta goes out of business or cannot finish the project, council would get the steel from the bridge. Domozick is expected to take the offer back to the bridge’s owner, KDC Investments. KDC is owned by Krystle Chaklos, wife of Delta owner Lee Chaklos.
“This is a self-funding project. When the steel comes down, it funds the money for the project,” Domozick said. “There is little risk (to Delta) going under.”
Longwell pointed out an unrelated riverboat demolition project that he claimed Delta did not finish as one reason for council’s tendency to be leery of striking a deal with the company.
“It’s a heck of a gamble,” Longwell said.
Read more on the latest twist here, and more on the never-ending saga here.
