By Sarah Richardson
A new bond order and resolution adopted by the Greenbrier County Commission on Dec. 10 authorizes the creation of new Tax Increment Financing (TIF) bonds up to a total of $20 million.
These bonds will be used to finance public infrastructure projects. Authorization under this project plan includes a very broad definition of “general public improvements,” anything from water and sewer upgrades to other essential items the area needs, including road work.
Attorney John Stump clarified that TIF does not increase anyone’s taxes. The funds are raised by setting a “base value” for property in a district, and as there is growth in property values above that baseline, those tax monies are transferred to the TIF fund.
The commission also authorized a total of $8,574 to Region IV and E.L. Robinson for the sewer expansion project in Hart’s Run for the new Great Barrel Company.
An 80/20 grant for improvements to the Greenbrier County Courthouse was also approved, totaling $91,600. This grant is for improvements to non-historic parts of the courthouse, which cannot be repaired using hotel/motel tax monies like the historic parts can. The original courthouse was built in 1837, with upgrades made in the 1970s and ‘80s. Grant funds will go toward roof repairs and several other needed upgrades.
The next Commission meeting will be adjusted due to the Christmas holiday, and is set for Monday, Dec. 30, at 10 a.m. in the courthouse.