FAIRMONT, W.Va. – Fairmont City Council met Tuesday, virtually, to hold a third and final reading of an ordinance proposing that the city submit an amendment to the West Virginia Home Rule Board.
Council unanimously adopted an ordinance that would allow it to submit its plan to expand business and occupation tax credits. Those credits would allow and encourage the development of owner-occupied residential dwellings within the city.
“We have the opportunity of attracting a development to the city of Fairmont to build a lot of houses. And what we are attempting to do it to modify our B&O tax to where we don’t have to charge the developer B&O tax, and then turn around and charge the subcontractors the same B&O taxes,” said Tom Mainella, Mayor of the City of Fairmont.
Council will submit the required information on the amendment to the state Home Rule Board and attend the April 14 meeting of the board presenting the planned amendment.
“The City of Fairmont desires to concentrate efforts in the attraction of residential housing development. This goal was not an area of focus when making an application for our original home rule plan in 2014. And the city did not include any proposal for the expansion of these credits at that time,” said Valerie Means, Fairmont City Manager.
If the Home Rule Board approves the proposed amendment, the city will bring the actual business and occupation tax credit ordinance before the council at a later date.
“If the Home Rule Board rules in our favor and at our request, we will be able to waive the B&O tax the developer would pay. And collect B&O tax that the subcontractors will pay for the work that’s done on the project,” Mainella said.
Also, the council adopted a resolution designating June 19 as Juneteenth Celebration Day within the City of Fairmont.