Cabell TIF zone expansion planned - WBOY.com: Clarksburg, Morgantown: News, Sports, Weather

Cabell TIF zone expansion planned

Posted: Updated:
  • BusinessBusinessMore>>

  • Obama offers new accommodations on birth control

    Obama offers new accommodations on birth control

    Friday, August 22 2014 3:18 PM EDT2014-08-22 19:18:08 GMT
    Seeking to quell a politically charged controversy, the Obama administration announced new measures Aug. 22 to allow religious nonprofits and some companies to opt out of paying for birth control for female employees while still ensuring those employees have access to contraception.
    Seeking to quell a politically charged controversy, the Obama administration announced new measures Aug. 22 to allow religious nonprofits and some companies to opt out of paying for birth control for female employees while still ensuring those employees have access to contraception.
  • Hatfield and McCoy feuding continues in Gilbert, WV

    Hatfield and McCoy feuding continues in Gilbert, WV

    Thursday, August 21 2014 11:39 PM EDT2014-08-22 03:39:40 GMT
    A modern day family feud is brewing in Gilbert, WV over moonshine and the family name.
    A modern day family feud is brewing in Gilbert, WV over moonshine and the family name.
  • 'Downtown Wheeling Inc.' Changes Name, Still Has Same Goals

    'Downtown Wheeling Inc.' Changes Name, Still Has Same Goals

    Thursday, August 21 2014 3:16 PM EDT2014-08-21 19:16:18 GMT
    One popular organization in Wheeling has changed their name. "Downtown Wheeling Inc.," will now be known as "Reinvent Wheeling." The group hosts many events in the Wheeling area such as the Wine and Jazz Festival, the Big Ideas Speaker series, and First Fridays. According to Reinvent Wheeling member Jake Dougherty, the name change is intended to reflect the organizations efforts to revitalize the downtown area. He said, "We were looking for a name that really expresses what was happening in d...
    One popular organization in Wheeling has changed their name. "Downtown Wheeling Inc.," will now be known as "Reinvent Wheeling." The group hosts many events in the Wheeling area such as the Wine and Jazz Festival, the Big Ideas Speaker series, and First Fridays. According to Reinvent Wheeling member Jake Dougherty, the name change is intended to reflect the organizations efforts to revitalize the downtown area. He said, "We were looking for a name that really expresses what was happening in d...

The Huntington Area Development Council wants to nearly double the size of its tax increment financing zone along W.Va. Route 2 near the Mason County line.

The expansion would add 55 acres to the existing 72-acre TIF zone near the unincorporated community of Green Bottom. The Cabell County Commission has approved the plan, which now goes to the West Virginia Development Office for approval.

The TIF zone was formed in 2008, and HADCO was authorized to issue up to $2 million in bonds to finance infrastructure improvements at the site, attorney Craig Griffith of Steptoe and Johnson said at a recent Cabell County Commission meeting. HADCO issued $750,000 of taxable bonds and $650,000 of exempt bonds, Griffith said. Industrial development in the zone, of which an Alcon Surgical manufacturing facility is the largest, generating $180,000 in income in 2012 and $230,000 in 2013, Griffith said.

The taxable bonds should be paid off in December 2016, and the exempt bonds should be paid off in June 2020, Griffith said.

Expanding the zone would allow HADCO to issue another $1 million in bonds, which would allow for utilities to be placed in the 55-acre area, Griffith said, and the bonds could be paid off by 2026.