Council Gets Five-Year TIF Update
By CASEY JUNKINSArticle Photos
With Wheeling City Council considering whether to demolish the former Rite Aid building at 1135 Market Street, members will receive an update on this and other Tax Increment Financing projects.
Councilwoman Gloria Delbrugge will join Mayor Andy McKenzie, Vice Mayor Eugene Fahey, and Councilmen Don Atkinson, James Tiu, Robert "Herk" Henry and Vernon Seals as City Manager Robert Herron provides a five-year TIF progress report during a public hearing to begin the 7 p.m. Tuesday meeting in City Council Chambers on the second floor of the City-County Building, 1500 Chapline St.
TIF is a tool that permits governments to use anticipated gains to finance improvements that are expected to create those gains that increase the tax value of the area in question. In September 2008, council spent $715,000 worth of TIF to purchase the G.C. Murphy, River City Dance Works and Rite Aid buildings in the 1100 block of Main and Market streets.
In May 2008, the West Virginia Development Office approved up to $8 million worth of Wheeling TIF projects, though council has only issued the $715,000 worth of bonds to date.
In accounting for the $8 million, the TIF application gave city officials the option to use $2.5 million to redevelop the 1100 block of Main and Market streets and $2.5 million for renovation and rehabilitation of the Capitol Theater.
After more than a year of searching for tenants and exploring options, Tiu and Henry do not see much of a future for the Rite Aid structure.
Tiu would like to demolish the Rite Aid building to create a "historically correct alleyway." Tiki Bar and Grill owner James Grace suggests council use the city-owned G.C. Murphy building as a center for teenagers to give local youth something to do.
Members also will vote on an ordinance granting the Historic Landmarks Commission the authority to regulate fencing in the downtown area, such as the fence along 11th Street in the Market Plaza.
This proposal would set no specific height or construction requirements, but would grant the commission the ability to decide what is appropriate.
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mernie
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11-16-09 4:29 PM
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Either sell them to a developer for $1 or auction them on condition they are renovated within six months and offered to tenants. They need tons of work, no matter how solid they are. The fascades could be street-scaped to fit the historic nature of the city. Just do something soon.
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meyers
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11-16-09 7:08 AM
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Spending all that money to buy those 3 pieces of property and trying to rent them out is a waste of time when you buy a run down piece of property of this sad shape you have to put money into it to make it atractive for people to want to come in and open up a business.Puting this kind of money out to aguire this property and tear it down is not the answer because it not sound business. Put some money into it and you will see people wanting to look at it for the purpose to open a store have some kind of meaning to the downtown.we got to get people elected on the City Council who have a vision on how to make Wheeling a town that people wants to come to shop and spend some money and vist. The City has all kind of money to buy these property but none to fix them up and you can't expect the tennents to do it for you becuase that your job cause you bought it.Look like we got some dumb people on the City Council thats for sure.
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