Monongalia County Commission approves $422,259.68 trustee payment for TIF district; notifies levying bodies

The Monongalia County Commission on March 19 approved a payment of $422,259.68 to a bond trustee to cover tax-increment financing (TIF) increments that county staff concluded had not been remitted to the TIF fund, and voted to send letters notifying affected levying bodies, including the City of Westover and the local board of education.

The payment addressed increments tied to parcel assessment and split issues related to a Menards parcel, county staff said. County Administrator Renetta McClure said staff verified the amounts and the commission made the trustee payment so the county could meet its bond obligations while it seeks reimbursement from the levying bodies.

Why it matters: The commission said it made the trustee payment to ensure bond payments were made on time and will seek to recover the money from the levying bodies that received the tax revenue. The county indicated the letters are intended to put the City of Westover and the Board of Education on notice as they prepare budgets; staff said there is no fixed timetable for reimbursement and repayment could be handled either…