TOLEDO -- Time is running out for the City of Toledo to keep the Marina District development on its current timeline.
Construction is expected to soon begin on a public works project along the east bank of the Maumee River.
News 11's Rob Wiercinski reported live with the story.
While there's evidence of some sewer and water line installation in the Marina District, vertical construction may be pushed back. That's if the city and Toledo Public Schools can't agree on a price for TPS to forgo collecting property taxes in the area.
Mayor Carty Finkbeiner tells News 11, "We were hoping that around the first of July we would be able to start building. The longer that we take to come to agreement, the more difficult it makes us getting our bonds issued."
The school board blames the mayor's office for not giving them enough time to make a decision on Tuesday. According to one member of council, there's enough blame to go around.
Mike Collins tells us, "The school board was well aware of this issue, and there's just as much dysfunction on the school board as there is in the administration."
However Collins says it's the typical 'MO' for the mayor's office. "They wait until the 12th hour, then rush the paperwork at you... and 'We need a decision in the next 10 minutes.' You just don't do business that way."
The mayor believes the Marina District timeline will stay on track only if a deal is reached with the school board next week. "I'm not going to be critical of their wanting to study as much as possible the agreement -- that's fair. I don't think we should be held hostage when there's no tax value coming out of that land today," he says.
On Monday, the TPS finance committee will meet again to discuss the Marina District issue. But if board action isn't taken before next Tuesday's council meeting, city council will likely have to schedule a special meeting on Marina District legislation.