Legal 3×13-1/2”
0413 0420
NOTICE OF PUBLIC HEARING
APPLICATION REGARDING APPROVAL OF PROJECT PLAN NO. 2 FOR THE COUNTY COMMISSION OF GREENBRIER COUNTY TIF DISTRICT #1 (WHITE SULPHUR SPRINGS) AND ISSUANCE OF TAX INCREMENT FINANCING OBLIGATIONS
A public hearing will be held on the proposed Application for Project Plan No. 2 for Greenbrier County TIF District #1 at a regular meeting of The County Commission of Greenbrier County, West Virginia (the “County Commission”), on April 23, 2019, at 7:00 p.m., in the County Commission meeting room at the Greenbrier County Courthouse, Room 212, located at 912 Court Street North, Lewisburg, West Virginia, and at such hearing any person interested may appear and present comments, protests and suggestions. All comments, protests and suggestions shall be heard by the County Commission, and it shall then take such actions as it shall deem proper in the premises regarding the approval pursuant to Chapter 7, Article 11B of the Code of West Virginia, 1931, as amended (the “Act”), of a Tax Increment Financing Application (the “Application”) regarding Project Plan No. 2 to be completed within “Greenbrier County TIF District #1 (White Sulphur Springs)” (the “TIF District”), including (i) financing the design, acquisition, construction and equipping of certain public infrastructure improvements located in, or for the benefit of, the TIF District, (ii) the extension of the period of time during which the TIF District is in existence from 20 years to 30 years, and (iii) the amendment of the boundaries of the TIF District by removing certain parcels of real property from the TIF District. Following is a brief summary of such matters.
Approval of Application regarding Project Plan No. 2
By an Order adopted on December 14, 2004, the County Commission approved the creation of the TIF District. Pursuant to a Resolution and Order adopted on January 22, 2008, the County Commission approved the initial project plan for the TIF District (“Project Plan No. 1 “). Project Plan No. 1 has been completed. The County Commission proposes a new project plan which would provide for additional development within the TIF District, consisting of public improvements, including, but not limited to the design, acquisition, construction and equipping of certain public infrastructure improvements within, or for the benefit of, the TIF District, including, without limitation, water lines and waterworks facilities, sanitary sewer lines and sewerage facilities, stormwater facilities, electric, natural gas, telecommunications, and other public utility improvements and public utility relocations, land acquisition, community facilities, including, without limitation, swimming pools, splash parks and playgrounds, stream rehabilitation, stream access, new construction of and improvements to roads, bridges, streetscape, including but not limited to sidewalks, curbing and gutters, street lighting and traffic signals, and site preparation and other earthwork which is necessary in connection with the foregoing, on land within the TIF District or located near the TIF District and which contains facilities which serve or benefit the TIF District (“Project Plan No. 2”). The map below shows generally the proposed improvements contemplated by the Project Plan No. 2:
Extension of TIF District
The Order adopted by the County Commission on December 14, 2004, established a period of 20 years from the date of creation thereof during which the TIF District would be in existence. Pursuant to the Application, the County Commission proposes to extend the period during which the TIF District is in existence from 20 years to 30 years from the date of creation thereof, as permitted by the Act. As extended, the TIF District would terminate on December 14, 2034.
Amendment of TIF District Boundaries
The County Commission proposes that the boundaries of the TIF District be amended to remove certain parcels. The map below shows the proposed boundary amendment as contemplated in the Application. The County Commission reserves the right to supplement or amend the list of parcels proposed to be removed prior to submission of this Application to the West Virginia Development Office.
Tax Increment Financing Obligations
The County Commission proposes to issue tax increment revenue bonds or other obligations (the “TIF Obligations”) in one or more series in an aggregate principal amount not to exceed $20,000,000, with maturities not to exceed 30 years from the date of the creation of the TIF District to (i) finance the costs of Project Plan No. 2, (ii) finance the costs of obtaining approval of Project Plan No. 2, (iii) fund reserves for the TIF Obligations, as necessary, (iv) fund capitalized interest on the TIF Obligations, as necessary, and (v) pay costs of issuance of the TIF Obligations and other related costs. Such obligations may be issued from time to time in one or more series. A portion of the costs of Project Plan No. 2 may also be paid directly from tax increment revenues.
Further information regarding the proposed Application and the TIF Obligations are on file and available for inspection at the office of the Clerk of the County Commission during regular business hours, located at the County Clerk’s office in the Greenbrier County Courthouse, 912 Court Street North, Lewisburg, West Virginia.
Dated: April 11, 2019
By: /s/ Robin Yates Loudermilk
County Clerk