City Council to Kick-Start Demolition Program in 2019 with $400,000 Loan from MVB

By Connect Clarksburg Staff | January 01, 2019
Members of the City of Clarksburg's Urban Renewal Authority (URA), city officials and executives of MVB Bank met Wednesday, December 12th, to execute a $400,000 loan which will allow the city to restart its very popular and succcessful demolition program.
 
 
In attendance were URA Chairman Anthony Secret, City Manager Martin Howe, Finance Director Kim Karakiozis, MVB Market President Herman De Prospero and MVB Treasury Services Officer Heath Frazier.
 
City Council unanimously voted to modify Clarksburg Urban Renewal Authority’s Urban Renewal Plan at their December 6, 2018 Council meeting in which the second and final reading of the ordinance took place. This approval places approximately 70 structures on the City’s demolition list.
 
City Manager Martin Howe stated, “These are the structures that were declared slum and blight by Council. Now they will be eligible to be razed utilizing funds for demolition.”
 
Council also voted to codify a city ordinance allowing the city to act as the guarantor of a $400,000 loan agreement between MVB Bank and the URA that will provide funding for the next round of demolitions.
Removal of these structures is a multi-faceted benefit to the city; it eliminates eyesores, reduces safety hazards, and opens up property for future development.
 
The City has begun testing the structures slated for demolition for asbestos and other environmental hazards. Once testing is complete, the structures will be placed out to bid. The URA will consider awarding the bids in late February 2019 and demolitions are expected to begin early spring 2019.
 
For more on the City’s demolition program, including the current demolition list, visit
http://www.cityofclarksburgwv.com/155/Code-Enforcement
 
The Urban Renewal Authority (URA) is a commission formed by the City Council that buys and sells property for development purposes. The URA is able to reinvest profits made on development projects into other economic development programs.
 
Members of the Urban Renewal Authority are Chairman Anthony Secret, Vice Chairman John Madia, Board Member Martin Howe, Board Member Sam Gallo, Legal Counsel Jeff Kimble and Council Representative Frank Ferrari.
 
For more on the Urban Renewal Authority, visit http://www.cityofclarksburgwv.com/260/Urban-Renewal-Authority
 

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