In compliance with West Virginia Code ยง7-11B-15(c), the information contained hereinafter is to be considered the Annual Statement for the City of Fairmont’s “Redevelopment District No. 1” for the fiscal year ended
June 30, 2023.
1. Summary of Receipts by Category for Fiscal Year ended June 30, 2023:
TIF Current Taxes $ 396,208.44
Interest on Investment $ 24,990.91
Other Investment Earnings $ 177,198.15
Total Receipts $ 598,397.50
2. Summary of Disbursements by Category for Fiscal Year ended June 30, 2023:
Professional Services $ 97,233.40
Capital Outlay Land $546,791.13
Bank Fees $ 3,008.06
Total Disbursements $647,032.59
3. Redevelopment Plan(s) and Project(s) therein:
Project Status:
Project 1 – Locust Avenue Sidewalk Project (Phase 1) Completed
In March of 2023 Blue & Gold Development, LLC began construction on the sidewalk from Fleming Avenue to McLane Drive. The project was completed in August 2023 resulting in over 1,200 linear feet of new sidewalks and stormwater lines. Federal Funds $592,000.00, Matching Funds $148,000.00 Total Project Construction Funds $740,000.00.
Project 2 – Locust Avenue Rain Garden and Bus Stop
The project has been included into a larger initiative that is ongoing to design and construct updated sidewalks and other pedestrian infrastructure all along Locust Avenue. A Transportations Alternative Program grant was submitted to the WVDOH in Spring 2023 for the planning and design of this rain garden, bus stop, and over a half mile of sidewalks to tie in to the commercial corridor, to include the hospital, a new medical clinic, the MVA clinic, and several residential neighborhoods. Award announcement is expected in FY 23-24.
Project 3 – Norwood Park
Norwood Park project was doubled in land area thanks to a generous donation of adjacent land from Novelis. CEC has completed an updated design to fit the new scale of the park. A public input session was conducted for feedback on desired park amenities. The current park design creates different zones for different ages, needs, or interests, to include educational walkways and stormwater facilities. Project is expected to go to bid for construction in Winter of 2023-2024 and begin construction in Spring of 2024.
Project 4 – Rail Trail
City of Fairmont has secured two of the most critical pieces of land on the west side of the Monongahela River. These two sections include the West Fork River area owned by Industrial Resources and CSX Transportation. In FY23, 18.04 acres were acquired for $546,791.13, the purchase costs include Professional Services, Taxes, Fees and Land. These purchases total nearly 2.5 miles of new rail trail corridor. A few purchases remain to be completed before design and construction begin.
The TIF Plan includes allowances for the following public improvements: road, intersection, and public property improvements, demolition and site preparation, and incidental costs and expenses, all in order to facilitate the issuance of tax increment financing obligations and allow for “pay as you go” projects that, due to limited sources of funding for such projects, would not be funded without the use of tax increment funds. The City of Fairmont TIF Redevelopment Project Plan No. 1 was approved on October 23, 2015. For more information please visit the City’s website at www.fairmontwv.gov. Priscilla Hamilton, Finance Director
ID: 738117