South Charleston council adopts Redevelopment District No. 2 for Jefferson Park

The City of South Charleston on Monday approved an ordinance establishing Redevelopment District Number 2 and approving Jefferson Park Project Plan No. 1, city staff said. Margie read the ordinance title aloud during a second reading and the council moved to adopt the measure, which passed on an affirmative voice vote.

Supporters during the discussion said the district will enable the city to issue bonds and use tax-increment financing tied to tenant and building values. Staff noted much of the area along the road in question is government-owned and therefore carries a real-estate tax base of zero; financial advisors (Piper Sandler was named as the firm that will analyze tenants and property values) will prepare more detailed increment estimates for potential bond buyers.

The ordinance does not itself appropriate bond proceeds; it establishes the redevelopment district and approves the project plan that will be used for subsequent financing steps. Officials said the next steps include completing the financial analysis and presenting bond parameters to council and prospective investors. The measure was approved at second reading and will proceed under the city’s redevelopment procedures.