City leaders look to new TIF districts | News, sports, jobs

WEIRTON – While it will most likely come down to a decision by the next Weirton Mayor and City Council, discussions are ongoing about the possibility of creating new Tax Increment Financing Districts in the city.

The topic came up during the department reports portion of Tuesday’s Weirton Council meeting.

Ward 4 councilor George Ash explained that two such districts are possible, with a focus on the more industrial areas of Weirton.

“We haven’t done anything with it yet” Ash said as he thanked newly elected Mayor Dean Harris and the five new individuals who would be part of the next City Council, all of whom were in attendance. “We’re just investigating it.”

Ash indicated that the specific areas of focus for such TIF districts, if they come into effect, are the Half Moon Industrial Park, located along Freedom Way, and the area of ​​north Weirton, which has undergone a transformation in recent years through demolition and redevelopment. of the former Weirton Steel property. The north Weirton property could include areas now owned by the Frontier Group of Companies.

Planning and Development Director Mark Miller explained that preliminary discussions about such a move go back about five years, and that he still has information gathered at the time, which he said could be used if the city decided to pursue such a project to put.

“I brought it all together in 2019,” said Molenaar.

It wouldn’t be Weirton’s first attempt at developing a TIF district.

Weirton’s first TIF district, established for the area known as the Three Springs Business Park, was created in November 2004 by Weirton Council action with the aim of encouraging development in that area near Three Springs Drive, including Park Drive encourage.

Two projects were completed using TIF dollars derived from the difference between the property’s tax revenues prior to its designation as a TIF district and the taxes generated from its development. Sun “increase” is collected in a fund to support projects, while the basic amount is still distributed as before.

Project 1 included the expansion of Park Drive, along with related utilities, which helped develop Pietro Fiorentini’s manufacturing facility at the end of the road. It’s completed.

Project 2 involves the Park Drive development currently underway, where the city has used TIF dollars to fund a streetscape project, along with roads and infrastructure, for the proposed business and residential development now under construction.

The TIF district has a 30-year term, and as of June 30, the district-originated fund had approximately $1.1 million that could be spent on other projects in the district while it remains in effect.

(Howell can be reached at [email protected])

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