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Finance committee hears TIF presentation, agrees to advance plan to council
Summary
A Piper Sandler consultant outlined how a proposed tax-increment financing (TIF) district would work in Charles Town — including a 30-year increment period, project list, and bond-sizing model — and the Finance Committee voted to move the item to the full council for next steps.
The Charles Town Finance Committee on April 14 heard a detailed presentation on tax-increment financing (TIF) from a Piper Sandler consultant and agreed to advance the item to the full council for consideration.
Mr. Nassif, the consultant, told the committee that a TIF district requires an application that defines contiguous boundaries, lists eligible projects and a finance plan, and sets a base valuation date. He described a 30-year increment period and said the city would project incremental assessed-value growth to size any bond issuance. "You are going to define the values of the district working with your team," he said, and noted the finance model would show what bond capacity the increment could support.
The presentation emphasized practical steps the city must take before creating a district: assemble a project list and team, hire bond counsel, submit a draft application, adopt a resolution to set a public‑hearing date, hold the public hearing and then submit minutes to the state for review (the consultant said the state typically takes up to 60 days to respond). Mr. Nassif described common uses for TIF proceeds — sidewalks, water and sewer work, intersections and other public infrastructure — and cautioned the city against including high‑risk parcels that could later become tax‑exempt and reduce the district's increment.
Committee members raised detailed questions about boundaries and fiscal impacts. The chair asked whether irregular or "pipe‑stem" parcels could count as contiguous; the consultant said roadways or rights‑of‑way are commonly used to show contiguity. A council member noted a recent $25 million net outflow in Jefferson County taxes and asked if a TIF would worsen school aid calculations; Mr. Nassif said the calculation is complex and recommended confirming the effect with state officials and bond counsel, adding that "it's not supposed to affect the schooling formula."
On timing, the consultant said the city should be prepared to set a public hearing by resolution and complete other application steps early to capture a July 1 base date if the council wants the district to start for the 2025–26 tax year. He offered to provide sample applications and case studies (Elkins, Huntington) and to meet in person to map potential boundaries.
After the presentation and questions, committee members agreed to place the TIF item on the City Council agenda for further review, to identify bond counsel, and to assemble a project list and finance team. The committee's action was an agreement to advance the work to council rather than final approval of a TIF ordinance.
What comes next: staff will prepare materials (a draft application and resolution) and seek bond counsel. The full council will need to set a public hearing and, if the city proceeds, adopt an ordinance to formally create the district.
