WHEELING - A second public hearing to allow comment on Ohio County's $30 million tax increment financing plan for The Highlands is slated for Jan 5.
One public hearing on the matter was supposed to occur at 6 p.m. Tuesday. However, during a regular Ohio County Commission meeting Tuesday, Administrator Greg Stewart said because related documents were not made available to the public 15 days before Tuesday's hearing, another hearing would be scheduled for 6 p.m. Jan. 5.
"Because we didn't have the plan properly finalized and available to all the public 15 days before tonight's meeting, we are going to have a hearing ... in this same room at the start of our commission meeting," Stewart said.
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William Hefner of Wheeling takes notes Tuesday during an Ohio County Commission meeting about a proposal for financing additional development at The Highlands.
The commission approved a resolution setting the next hearing date and time.
Since a number of people showed up for the hearing Tuesday, the commission decided to take comments "on the record."
"We didn't want to deny anybody the ability to comment," Stewart said after the meeting.
Only one resident, Walter "Fuzz" LaRue, commented. He spoke in favor of the county seeking additional TIF for The Highlands.
"I was around when this project first started in 2004. ... You've created a lot of jobs and economic development for a lot of people. I am very in favor of the expansion of these bonds, because, to me, economic development is a paycheck in people's pockets. We have created a lot of that up there with this TIF funding now," LaRue said.
Stewart said after the meeting that the amended TIF plan, starting today, is available for the public to inspect at the commission office, Room 215 of the City-County Building, 1500 Chapline St., Wheeling.
According to a copy of the plan - titled Ohio County Commission Fort Henry Centre TIF District Project Plan Amendment - provided by Stewart, of the $30 million in bonds being sought, $15,630,000 would be used for "road extensions" during two different phases of work; $6 million would be used for "property acquisition;" $4,045,000 for "reserve funds and bond closing costs;" $2 million for "road extensions" during three different phases of work; $2 million total for "utility extensions" during six different phases of work; and $325,000 for "traffic controls."
Under Sources and Uses, the plan breaks down "probable construction costs" related to future phases of development, including road extensions ($2 million) and infrastructure ($2 million) related to an "amusement park." It also lists Sept. 11, 2006, budget estimates for an Interstate 70 interchange ($23,150,000) and interior access road ($15,630,000).
Also included under Sources and Uses is a June 24, 2009, invoice for $18,400 from HDR of Weirton for engineering services related to "Cabela traffic signal design" at the site. Following the engineering invoice is a bid tabulation form listing three different companies' bids related to the traffic signal work at the site, dated July 7, 2009.
According to the plan's Executive Summary, the plan is being filed with the state development office to seek an additional bond capacity of $30 million within the original TIF district, as approved June 21, 2005.
"This number is derived from the additional needs to complete the district and the additional TIF revenue generated as the balance of the district is developed," the plan states.
The summary notes, to date, about 2,400 full-time jobs have been created at the site; when it is completed, an additional 2,000 full-time jobs are expected to be created. To date, 62 businesses have opened in the TIF district, with an estimated 18 more to open in 2010.
The retail development's assessed value as of June 30 is $153,160,294, generating annual property taxes of $3,474,251. The plan estimates that by June 30, the assessed value will be $180,058,735 and that it will generate $4,084,409 in property taxes. Prior to its development, the site's assessed value was $291,510, generating $5,073 in property taxes.