Hurricane City Council meeting of September 1st, with the exception of one item of new business, was routine. That item was listed on the agenda as “Discussion and possible decision for Mayor Edwards to sign a PILOT Agreement regarding 304 at Valley Pointe.”
304 at Valley Pointe, located off Teays Valley Road to the rear of Wendy’s, is the upscale urban designed property that offers amenities to tenants which include a clubhouse featuring a fitness room, wellness studio, sauna, lounge area, conference room, game room, and an outdoor swimming pool with a splash pad. A PILOT Agreement is “payment in lieu of taxes.”
The developer, Allen Bell, had asked the City of Hurricane to agree to an annual payment which would reduce its municipal tax burden by 30% in the next five years. Mayor Edwards said that the PILOT agreement would allow Bell to borrow money at a more favorable interest rate. Edwards stated that 304 at Valley Pointe will generate an increase in tax revenue from B & O taxes which will dwarf the relatively small amount that will be lost through the PILOT agreement. Edwards added that the city has already experienced a surge in B & O taxes from contractors engaged in the construction of the development.
After a give-and-take discussion, council unanimously approved the agreement.
In other new business the council conducted a second reading of three ordinances which will bring an additional 155 acres into city limits. All but 3.42 acres is property which the city has owned for years — 149.5 acres in Rooper Hollow which is part of the Hurricane Reservoir system and 2.5 acres is adjacent the City Park. The 3.42 acres is privately owned land on Teays Valley Road that is adjacent to the former Teays Valley Tire property.
In another item of new business, council granted approval to Edwards to sign a right of way deed which will result in the road from State Route 19 between McDonald’s and Dunkin’ becoming a city street. The road was formerly owned by Putnam County Bank.
Marketing Director Amanda Ramey announced that the annual Hurricane Harvest Festival will be held on Saturday, September 20th, at City Park.
The council next meets for regular business on Monday, October 6, at 6:30 p.m.
