Weirton council has sights set on TIF funding
WEIRTON — Weirton Council, as part of a special meeting Tuesday, took another step in obtaining approval for Tax Increment Financing dollars for a planned development project near Three Springs Drive.
Tuesday’s gathering had been scheduled in order to approve the minutes from council’s July 9 regular meeting. The action was needed in order to include the records with the city’s TIF application.
“It’s part of the process,” Mayor Harold Miller said.
Council approved the minutes, with amendments which were not specified during the meeting, by a 4-0 vote. Ward 7 Councilman Terry Weigel abstained, as he was not in attendance July 9. Ward 5 Councilman Doug Jackson did not attend Tuesday’s meeting. The Ward 2 council seat currently is vacant following the resignation of Matt Provenzano, who moved out of the ward.
The project is focusing on 72 acres along Park Drive, with the first phase including 10 acres with plans for retail, restaurants, a possible hotel and a proposed city conference center.
A total of $10,348,000 in public investment is planned, with $1,174,000 already provided through funding from the U.S. Economic Development Administration.
Officials say the public funds are expected to leverage an additional $16.6 million in private investment, with the possibility of up to 250 jobs created from Phase 1.
Council authorized the application for the TIF funds during the July 9 meeting, as well as held a public hearing on the issue.
The full TIF proposal can be viewed online at the city’s website, www.cityofweirton.com, by going to the “How Do I…” section, the “View” subsection and the “TIF Information” page.
(Howell can be contacted at firstname.lastname@example.org, and followed via Twitter @CHowellWDT)