Cabell TIF zone expansion planned - WTRF 7 News Sports Weather - Wheeling Steubenville

Cabell TIF zone expansion planned

Posted: Updated:
  • BusinessBusinessMore>>

  • '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...
  • US existing home sales rise for 4th straight month

    US existing home sales rise for 4th straight month

    Thursday, August 21 2014 10:33 AM EDT2014-08-21 14:33:29 GMT
    Sales of existing U.S. homes rose for the fourth straight month in July to their highest level in nearly a year, the latest sign that the housing recovery is picking up after stumbling at the start of the year.
    Sales of existing U.S. homes rose for the fourth straight month in July to their highest level in nearly a year, the latest sign that the housing recovery is picking up after stumbling at the start of the year.
  • 2014 West Virginia Broadband Conference highlights NTIA grant

    2014 West Virginia Broadband Conference highlights NTIA grant

    Wednesday, August 20 2014 3:13 PM EDT2014-08-20 19:13:42 GMT
    At the West Virginia Broadband Conference: Investing in the Future, at the Charleston Mariott Town Center Aug. 19, presenters highlighted the multiple sectors in the Mountain State's 11 planning and development regions that received monetary funds through a grant by the National Telecommunications and Information Administration of the United State Department of Commerce.
    At the West Virginia Broadband Conference: Investing in the Future, at the Charleston Mariott Town Center Aug. 19, presenters highlighted the multiple sectors in the Mountain State's 11 planning and development regions that received monetary funds through a grant by the National Telecommunications and Information Administration of the United State Department of Commerce.
  • GovernmentGovernmentMore>>

  • City of Bridgeport to participate in Internet pilot program

    City of Bridgeport to participate in Internet pilot program

    Thursday, August 21 2014 1:42 PM EDT2014-08-21 17:42:43 GMT
    House Speaker Tim Miley, D-Harrison, applauded bold steps by the city of Bridgeport to become in providing residents with a huge boost in Internet speed. Miley, in a press release, also urged other West Virginia communities to consider a similar approach.
    House Speaker Tim Miley, D-Harrison, applauded bold steps by the city of Bridgeport to become in providing residents with a huge boost in Internet speed. Miley, in a press release, also urged other West Virginia communities to consider a similar approach.
  • WV Sen. Manchin applauds DEA decision to reschedule hyrdocodone, related drugs

    WV Sen. Manchin applauds DEA decision to reschedule hyrdocodone, related drugs

    Thursday, August 21 2014 11:56 AM EDT2014-08-21 15:56:04 GMT
    The U.S. Drug Enforcement Administration moved Aug. 21 to list hydrocodone-combination products as Schedule II drugs under the Controlled Substance Act. U.S. Sen. Joe Manchin, D-W.Va., applauded the DEA after the agency officially announced the final rule to reschedule the drugs, which are found in highly addictive painkillers like Vicodin and Lortab, from a Schedule III to a Schedule II controlled substance.
    The U.S. Drug Enforcement Administration moved Aug. 21 to list hydrocodone-combination products as Schedule II drugs under the Controlled Substance Act. U.S. Sen. Joe Manchin, D-W.Va., applauded the DEA after the agency officially announced the final rule to reschedule the drugs, which are found in highly addictive painkillers like Vicodin and Lortab, from a Schedule III to a Schedule II controlled substance.
  • National Parks Service bans drones over Appalachian Trail

    National Parks Service bans drones over Appalachian Trail

    Thursday, August 21 2014 11:49 AM EDT2014-08-21 15:49:23 GMT
    National Park Service photoNational Park Service photo
    The National Park Service has banned drones from flying over the Appalachian Trail.
    The National Park Service has banned drones from flying over the Appalachian Trail.

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.