Governor Approves Morgantown TIF
Written by Your 5News Team
Last updated on May 01, 2013 @ 1:25PM
Created on April 30, 2013 @ 5:47PM
Photo courtesy of West Virginia University
A bill that would help pay for a new ballpark for West Virginia University is about to reach home plate. That's because on Tuesday evening Governor Earl Ray Tomblin put pen to paper on a bill that would help pay for that project.
Just about two weeks ago the state legislature approved the Monongalia County Tax Increment Financing (TIF) project.
In addition to paying for a baseball stadium it also clears the way for a new interchange off of interstate 79 and development near the University Town Centre. Commissioner, Tom Bloom said that's why they supported the project in the first place.
"You're going to start see this whole alley of (interstate) 79 being built up," Bloom said. "This is a major development. We believe the TIF payments will be paid off in 12 to 15 years, and we'll use that money for more infrastructure to develop the Westover, Granville area."
Bloom added they want start construction later this summer.
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