Mon Commission President Pleased Legislature Approves TIF
Written by Your 5News Team
Last updated on April 18, 2013 @ 7:21PM
Created on April 18, 2013 @ 5:56PM
"I was pleased." That was the reaction from Monongalia County Commission President, Eldon Callen when he learned the state legislature approved the Monongalia County Tax Increment Financing (TIF) project.
On Wednesday night both the Senate and the House passed the bill during a special session.
The TIF has grabbed headlines because it would help fund a new baseball stadium for West Virginia University.
In addition to paying for a stadium the TIF also clears the way for a new interchange off of Interstate 79 and development near the University Town Centre. It's estimated that the project will bring 1,500 jobs to the area.
Callen said he first got on board with the project when he heard about the jobs that would be supported by the project. He said the area where everything would be built had been underdeveloped since the 1950's. Callen said the project will drive developments in other parts of the area as well.
"The ultimate job picture within the next 30 years is probably more than 100 times (than what's been predicted)," Callen said. "That's the kind of opportunity this opens up."
The bill still needs to be approved by Governor Tomblin. Tomblin said he plans to sign it when it comes to his desk.
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