Beechurst properties target of Sunnyside TIF changes, improvements
Mar. 25—MORGANTOWN — As the designated developer of the city's Sunnyside Tax Increment Financing District, Campus Neighborhood Revitalization Cooperation, also known as Sunnyside Up, is eyeing Beechurst Avenue for the next round of TIF improvements.
In particular, Morgantown Area Partnership Executive Director Russ Rogerson explained, CNRC owns about two acres of open property between 4th and 6th streets on the river side of the road.
But before any of that, the agency is working with the city to put the district in the most advantageous position moving forward.
During its most recent regular meeting, Morgantown City Council set a public hearing for 7 p.m. April 22 to take feedback on an amendment to the district's boundaries.
The amendment would remove 4.352 acres made up of four parcels owned by Morgantown Energy Associates at 555 Beechurst Ave. from the district.
The move is directly tied to the district's financial health as the properties have a lower assessed value today than when the district was created in 2008.
"When the district was created, that was a fully functional power plant and steam generation plant. It is currently supplying just steam, so they have had a large reduction of usage and therefore value in equipment, " Rogerson said.
Ultimately, the plan is to go to the West Virginia Department of Economic Development with requests to amend the boundaries, extend the life of the district by 15 years, to 2053, and raise the bonding capacity of the district beyond the current $15 million cap.
"This is a positive move for the district and the Sunnyside area. We're just making sure that we can continue our redevelopment efforts in that area to continue to add more value to the community, " Rogerson said.
Since its inception, increment generated by the Sunnyside TIF has resulted in a list of infrastructure projects, including a Grant Street streetscape, a reconfiguration of the intersection of University Avenue /Beverly Avenue /3rd Street, pedestrian upgrades along 8th Street and additional infrastructure along Beverly Avenue and the surrounding area.
"The Sunnyside TIF has performed very well and we — Sunnyside Up in conjunction with the city and WVU — were able to accomplish a lot of good things up on University Avenue. We went on to a second tranche, we were able to improve some of the roadways in the Sunnyside area, do the sidewalk up 8th Street and the rail-trail access point, " Rogerson said.
"It's been a good TIF, and yet we have more work to do down in the Beechurst area ... The intent all along was to see what kind of additional development we could accomplish there, and we are currently discussing with developers what could go there, what would go there and what that would look like. How can we do something significant in that area ?"
While the boundaries of the district are irregular and jut out to include properties like the Advance Auto Parts and Bent Tree Court Apartments on one side and a strip of properties bordered by Lorentz, 1st and Stewart streets on the other, the general footprint runs from 8th Street to 1st Street /Campus Drive. It runs from the river to an upper boundary created by University, Jones, Sharon and Lorentz avenues.
CNRC (Sunnyside Up) is one of the agencies that falls under the umbrella of the Morgantown Area Partnership.
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