May 10, 2008
Business Incentives to Stay in or Come to Huntington
By Tony Rutherford
Huntingtonnews.net Reporter
Huntington, WV (HNN) -- Admitting that perhaps the current Huntington City Council should have been wooing potential business to the city during their first seven months after taking office, council member Phil D. Adkins has now sponsored two ordinances to dangle “carrots” at new and existing business.
The reworking of the ordinances comes in the midst of both good and bad news --- the city continues to lose physicians (service) establishments to the county which does not have a 1% B & O tax and Dr. Bill Ratcliff despite the tax has opted to rebuild the former Ratcliff Place structure across from Chase Bank on Fifth Avenue.
Specifically, the ordinance allows new business a 50% rebate on their B & O for two years. But Adkins plans to submit a motion to extend the tax break to three years. “We’re losing our medical groups,” Adkins said. Following the work session Adkins explained, “We have an exodus from the city. We need to get the word out that we are going to work to keep people in the city and bring in more.”
A part of the incentive would allow businesses to recoup the 2% B & O tax paid by contractors. Referring specifically to the rebuilding of Ratcliff Place, Adkins stated, “When you have someone like the Ratcliff Brothers that are going to invest [over one million dollars rebuilding their burned former home] , I think its time we started showing our appreciation.”
Under the ordinance, existing business that meets certain construction expansion guidelines would be able to receive the 2% back over a four year period with the stipulation that the structure remain commercial and that the business is current on other municipal obligations.
A second ordinance proposes a break on municipal fees. Similar to the discount allowed by the county for paying real estate taxes early, an individual or business would be able to save $24 on their fee by making a full annual payment in July.
Finance Director Bob Wilhelm opined that the incentive likely would help bring much needed cash to the city coffers in July, which is normally a slow month for collections. Again, to take the discount, the individual or business would have to be current on all obligations to the city.
At-large council member Adkins acknowledged these were small steps but “it’s the best I could do as far as putting some type of incentive together” to stay in or come in to Huntington.
The ordinances will be referred to the finance committee for additional study.
Huntington City Council meets at 7:30 p.m. Monday, May 12. The Finance meeting is at 4 p.m. that same day.
The only ordinance up for second reading concerns a $158,800 purchase to install video cameras and wireless internet capabilities at Harris Riverfront Park, the Big Sandy Arena and the city’s parking garage. The funds come from CBDG, the arena, and the Huntington Municipal Parking Board.
E-mail HNN Yahoo Google
Make HNN Your Homepage (IE Users Only)
Business Incentives to Stay in or Come to Huntington
By Tony Rutherford
Huntingtonnews.net Reporter
Huntington, WV (HNN) -- Admitting that perhaps the current Huntington City Council should have been wooing potential business to the city during their first seven months after taking office, council member Phil D. Adkins has now sponsored two ordinances to dangle “carrots” at new and existing business.
The reworking of the ordinances comes in the midst of both good and bad news --- the city continues to lose physicians (service) establishments to the county which does not have a 1% B & O tax and Dr. Bill Ratcliff despite the tax has opted to rebuild the former Ratcliff Place structure across from Chase Bank on Fifth Avenue.
Specifically, the ordinance allows new business a 50% rebate on their B & O for two years. But Adkins plans to submit a motion to extend the tax break to three years. “We’re losing our medical groups,” Adkins said. Following the work session Adkins explained, “We have an exodus from the city. We need to get the word out that we are going to work to keep people in the city and bring in more.”
A part of the incentive would allow businesses to recoup the 2% B & O tax paid by contractors. Referring specifically to the rebuilding of Ratcliff Place, Adkins stated, “When you have someone like the Ratcliff Brothers that are going to invest [over one million dollars rebuilding their burned former home] , I think its time we started showing our appreciation.”
Under the ordinance, existing business that meets certain construction expansion guidelines would be able to receive the 2% back over a four year period with the stipulation that the structure remain commercial and that the business is current on other municipal obligations.
A second ordinance proposes a break on municipal fees. Similar to the discount allowed by the county for paying real estate taxes early, an individual or business would be able to save $24 on their fee by making a full annual payment in July.
Finance Director Bob Wilhelm opined that the incentive likely would help bring much needed cash to the city coffers in July, which is normally a slow month for collections. Again, to take the discount, the individual or business would have to be current on all obligations to the city.
At-large council member Adkins acknowledged these were small steps but “it’s the best I could do as far as putting some type of incentive together” to stay in or come in to Huntington.
The ordinances will be referred to the finance committee for additional study.
Huntington City Council meets at 7:30 p.m. Monday, May 12. The Finance meeting is at 4 p.m. that same day.
The only ordinance up for second reading concerns a $158,800 purchase to install video cameras and wireless internet capabilities at Harris Riverfront Park, the Big Sandy Arena and the city’s parking garage. The funds come from CBDG, the arena, and the Huntington Municipal Parking Board.
E-mail HNN Yahoo Google
Make HNN Your Homepage (IE Users Only)
