The future of the 20 Federal Place project is looking more promising after city officials met with the developer's of the project Tuesday evening at City Hall.

After tenants in the complex were notified to vacate the property, the city is now analyzing the current lease agreement to see what the next steps are.

Officials focused on the concerns with the current lease agreement and the next steps moving forward.

"The projected market rate value after full transformation right around now is about $31 million dollars," said Jim Ambrose with Raymone Architects. "It's going to cost $74 million dollars for us to pull this off with a volatile construction market."

Ambrose asked for council's support of the project. Council members like Basia Adamczak backing the plan in place, saying the company continues to reach the proper benchmarks.

"We can demonstrate we are going to bring private capital on board to show there is someone serious about investing in Youngstown," Ambrose added.

Councilwoman Lauren McNally said taking the property out of the city's hands and handing it over to national real estate in efforts to make the building more viable is the best idea.

The meeting also brought in frustrated business owners from 20 Federal Place, including owners of Federal Grille, who now have 60 days to vacate their space.

Councilman Julius Oliver questioned the update city officials have with helping current tenants move out of the space. Adamczak said city officials should have notified tenants earlier of this eviction.

"It sounds great that we are going to get an outside entity to come in and put some private funding in," said Youngstown Mayor Tito Brown in the meeting. "But at the end of the day, I have public funds that's been allocated to the City of Youngstown. As Mayor, it's my job legally we have an out clause that works for us as well as those who may be the least seen."

"We're committed to this project and we will get it done as long as we all continue to collaborate and move these necessary things forward," Ambrose said. 

The meeting concluded with McNally drafting legislation to enter into a lease agreement to continue moving forward with applying for historical tax credit funding for the project.

Per the historic consultant's guidance, the architects must have all documentation and drawings completed by mid-August to prepare the submission for September.