Morgantown City Council approves tax rates and airport budget adjustments

The Morgantown City Council meeting on April 15, 2025, focused on several key financial and development issues, including the approval of tax rates and significant budget amendments for local projects.

The council began by approving the rates of levy for the upcoming fiscal year, which will start on July 1, 2025. These rates, which remain unchanged from the previous year, are a necessary step in finalizing the city’s budget for fiscal year 2025-2026. The approval was unanimous, with all council members voting in favor.

Next, the council addressed a resolution to amend the budget for the Morgantown Airport improvement project. This amendment allows for the allocation of previously approved grants, totaling $10 million, to support phases four and five of the airport runway project. This step is crucial for ensuring that the funds are available for immediate use.

A significant discussion also took place regarding the approval of a public hearing for a tax increment financing (TIF) application related to the Riverfront development district. The proposed project plan aims to restructure existing bonds to improve financial conditions for the district, which has been in operation since 2003. The restructuring is intended to enhance the ability of bondholders to recoup their investments, particularly as the district approaches the end of its original financing period. A public hearing is scheduled for May 20, 2025, to gather community input on this proposal.

Overall, the meeting highlighted the city council's ongoing efforts to manage financial resources effectively while promoting development in Morgantown. The decisions made are expected to have a lasting impact on local infrastructure and economic growth.