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Commission hires Steptoe & Johnson to advise on possible sale of Boyers Avenue-area property
Summary
The commission approved an engagement agreement with Steptoe & Johnson PLLC to provide legal representation and advice related to a possible sale of county-owned property in the Boyers Avenue area that was acquired earlier with tax-increment bond proceeds.
Monongalia County commissioners on Feb. 5 approved an engagement agreement retaining Steptoe & Johnson PLLC to advise the county on a possible sale of property in the Boyers Avenue area.
The property in question had been previously acquired by the town of Star City with proceeds from the county commission’s sale of tax-increment revenue bonds in 2012, and the county is seeking outside counsel to analyze legal options and next steps for a potential transaction. The commission’s action at the Feb. 5 meeting was to approve the engagement agreement; no sale was approved and the agreement is for legal representation and analysis only.
Why it matters: a sale of property acquired with tax-increment revenue bond proceeds raises questions about the bond covenants, use of proceeds and the legal process required to transfer or dispose of the property. The commission approved the engagement to have counsel review and advise on those constraints and options.
The motion to retain Steptoe & Johnson was moved and seconded and approved by the three commissioners present; the county did not discuss or approve a sale at this meeting.
