The 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 County; West Virginia ballpark renderings released; Morgantown emerging as potential Bucs farm-team home?; Monongalia County approves WVU ballpark; Work continues on new WVU ballpark; WVU: We want new ballpark for us, NY-Penn League team
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