NOTICE OF PUBLIC HEARING REGARDING COMBINATION OF EXISTING
CITY OF WHEELING REDEVELOPMENT
PROJECT DISTRICT
NO. 1 AND EXISTING
CITY OF WHEELING
REDEVELOPMENT DISTRICT NO. 2
AND ISSUANCE OF TAX INCREMENT FINANCING OBLIGATIONS
A public hearing will be held at a regular meeting of the City Council of The City of Wheeling (the “City”), on August 16, 2022, at 5:30 p.m. (or as soon thereafter on such date as the matter may be heard by the City Council) in Council Chambers on the first floor of the City-County Building, 1500 Chapline Street, Wheeling, WV, 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 City Council, 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 “District Merger Application”) regarding the proposed combination of the tax increment financing districts known as “City of Wheeling Redevelopment Project District No. 1” (“TIF District No. 1”) and “City of Wheeling Redevelopment District No. 2” (“TIF District No. 2” and together with TIF District No. 1, the “Existing TIF Districts”). Following is a brief summary of such matters.
Approval of Application Regarding Combination of TIF District No. 1 and TIF District No. 2 and Combined Project Plan No. 1
By an Ordinance enacted by the City Council of the City December 16, 2003 (the “TIF District No. 1 Creation Ordinance”), the City created TIF District No. 1 as a redevelopment district under the Act. By an Ordinance enacted by the City Council on September 7, 2004, the City approved a Project Plan for TIF District No. 1 known as “The City of Wheeling Stone Building Renovation Project No. 1” (“TIF District No. 1 Project Plan No. 1”). By an Ordinance enacted by the City Council on June 21, 2005, the City removed certain parcels of real estate from TIF District No. 1. By an Ordinance enacted by the City Council on August 2, 2005, the City approved a Project Plan for TIF District No. 1 known as “G.G.P. Wheeling 2003, LLC Project Area No. 1” (“TIF District No. 1 Project Plan No. 2”). By an Ordinance enacted by the City Council on June 3, 2008, the City approved a Project Plan for TIF District No. 1 known as “Downtown Redevelopment Project Plan No. 3” (“TIF District No. 1 Project Plan No. 3”). By an Ordinance enacted by the City Council on September 20, 2011, the City approved an amendment to TIF District No. 1 Project Plan No. 3 for the purpose of amending the geographical area included in TIF District No. 1 Project Plan No. 3 (“TIF District No. 1 Amended Project Plan No. 3”). On August 16, 2022, the City will consider for enactment an ordinance regarding the proposed addition of the parcel of real estate comprising the former Wheeling Pittsburgh Steel Building to TIF District No. 1.
By an Ordinance enacted by the City Council on December 5, 2017 (the “TIF District No. 2 Creation Ordinance”), the City created TIF District No. 2 as a redevelopment district under the Act and approved a Project Plan entitled “Parking Garage Project No. 1” (“TIF District No. 2
Project Plan No. 1″), which provided for the use of tax increment financing to pay for costs associated with the acquisition, repair, renovation and maintenance of the Center Wheeling Parking Garage and the design, acquisition, construction and equipping of other public infrastructure improvements, all located within or benefiting TIF District No. 2 or any portion thereof determined to be undertaken by the City. The District Merger Application proposes amendments of TIF District No. 1 Amended Project Plan No. 3 and TIF District No. 2 Project Plan No. 1 which would (i) combine the Existing TIF Districts into a combined tax increment financing district to be known as “City of Wheeling Combined Redevelopment District No. 1 and No. 2” (the “Combined TIF District”); and (ii) approve a combined Project Plan for the Combined TIF District entitled “Combined Project Plan No. 1” (the “Combined Project Plan”).
The Combined Project Plan would provide for the development of certain capital improvements within or contiguous to the Combined TIF District and which serve the Combined TIF District. The Combined Project Plan provides for the design, permitting, acquisition, construction and equipping of site, infrastructure, and other improvements, both public and private, that will facilitate development within, or for the benefit of, the Combined TIF District (the “TIF Projects”), including, without limitation, water lines and waterworks facilities, sanitary sewer lines and sewerage facilities, stormwater facilities, electric, natural gas, telecommunications, cable, fiber optics, and other public utility improvements and public utility relocations, land acquisition, site preparation and excavation, renovations to existing buildings, demolition, community facilities, 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, and specifically to include:
Redevelopment and restoration of the former Wheeling Pittsburgh Steel Building and the McFadden Building, including necessary acquisition costs;
Redevelopment and restoration of the Stone Center;
Renovations and partial or full demolition of the Center Wheeling Parking Structure and renovations and partial or full demolition of the former Ohio Valley Medical Center (“OVMC”) buildings;
Renovations of four city-owned buildings in the 1400 block of Market Street into commercial and residential space.
On May 17, 2022, the City held a public hearing with respect to the District Merger Application and approved submission of the District Merger Application to the West Virginia Department of Economic Development. The Secretary of the West Virginia Department of Economic Development approved the District Merger Application and the Combined Project Plan by letter dated July 19, 2022.
Tax Increment Financing Obligations
The City 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 $40,000,000.00, with maturities not later than the scheduled termination date of the Combined TIF District to (i) finance the costs of the TIF Projects, including architectural, engineering, legal and other
professional fees and expenses, (ii) finance the costs of combining the Existing TIF Districts and obtaining approval of the Combined Project Plan, (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.
Further information regarding the proposed Combined TIF District and Combined Project Plan is on file and available for inspection at the office of the City Clerk during regular business hours, located at the City Clerk’s office at the City-County Building, 1500 Chapline Street, Room 301, Wheeling, West Virginia, 26003.
Dated: August 5, 2022.
By: /s/ Brenda J. Delbert City Clerk
N.R. Aug 5, 12, 2022