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Commission approves MOU with Star City to market TIF-acquired Boyers Avenue properties
Summary
Monongalia County Commission approved a memorandum of understanding with the town of Star City to pursue an RFP-driven process to market and sell properties acquired with prior TIF bond proceeds; the MOU sets review, mutual approval and potential property transfer conditions.
The Monongalia County Commission on Sept. 10 approved a memorandum of understanding with the town of Star City to coordinate marketing and sale of properties near Boyers Avenue that were acquired using proceeds from earlier tax-increment revenue bonds.
Under the MOU staff described in the meeting, Star City will issue an RFP and review development proposals; if Star City receives proposals it considers viable, the town will summarize them for the county and the two jurisdictions must mutually agree on a successful proposal. If a mutually agreed proposal emerges, Star City would deed the property to the county and the commission would negotiate and transfer the property to the developer with proceeds returning to the TIF fund. If no agreement is reached, the properties would be deeded back to Star City.
A commissioner moved to approve the MOU and the motion passed by voice vote. Staff framed the arrangement as a practical way to pursue development while protecting the TIF fund's interests and preserving options if no acceptable proposal is received.
