Craig County moves forward with Carter Bank renovation; board approved tax-credit consultant and design contract

The Craig County Board of Supervisors approved two resolutions at the Sept. 4 meeting to advance renovation of the vacant Carter Bank building in New Castle into county administration offices.

The board authorized the County Administrator to execute a design and construction services agreement with Thompson & Litton (Resolution R25-65) and separately approved a tax-credit management agreement with Brian Wishneff & Associates (Resolution R25-66). Both motions passed on recorded roll calls. The Thompson & Litton agreement covers schematic and construction documents, bid assistance and construction contract administration. The Wishneff agreement commits the consultant to manage historic-tax-credit (HTC) monetization and structuring and sets fees tied to tax-credit equity proceeds.

Why it matters: County staff and consultants said the building is in the historic district and likely eligible for state and federal historic tax credits, which could materially reduce the county’s net renovation costs if the project is structured correctly. Adam Markwood, Director of Investments for Brian Wishneff & Associates, told the board the firm will review designs and contractor allocations to maximize qualified rehabilitation expenditures (QRE), assist with the cost-certification audit, recruit tax-credit investors, and, if authorized, help secure bridge financing.

What the board voted: The resolutions were adopted by recorded vote. For R25-65 the board vote was recorded as Jordan Labiosa — yes; Jason Matyas — yes; Keith Dunbar — yes; Carl Bailey — yes; Jesse Spence — yes. R25-66 was approved on a similar recorded vote.