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First TIF approved for new Morgantown ballpark

West Virginia UniversityThe first of two TIF districts needed for construction of a new West Virginia University ballpark in Morgantown has been approved, with the second to be taken up by the state legislature.

The ballpark could also house a short-season A NY-Penn League team, according to organizers.

The first instance of a tax-increment financing district would divert increases in property taxes generated by a Morgantown development, to the tune of $20 million. It required state approval, and members of the Monongalia County Commission reported yesterday it had indeed been approved. The second TIF district based on increased sales-tax revenues requires approval by the state legislature, which isn’t expected until 2013.

RELATED STORIES: New West Virginia ballpark greenlighted by Monogalia CountyWest Virginia ballpark renderings releasedMorgantown emerging as potential Bucs farm-team home?Monongalia County approves WVU ballparkWork continues on new WVU ballparkWVU: We want new ballpark for us, NY-Penn League team


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