April 30, 2010
Huntington Development Asks for $50 Million in Federal Recovery Zone Bonds
By Tony Rutherford
Huntingtonnews.net Reporter
Huntington, WV (HNN) – The devil will be in the details, but the preliminary hints imply a possible $50 million dollar commercial and/or residential development for Huntington and/or Cabell County.
The Cabell County Commission on Thursday, April 29, gave support to the application of RiverPlace, L.L.C. for Federal Recovery Zone Facility Bonds. Recovery Zone Facility Bonds are a new type of tax exempt private activity bond created by the American Recovery and Reinvestment Act, passed by Congress in February 2009. They may be used to finance certain kinds of business development activities in areas of significant economic distress.
Principal partners in the project are Brad Burgess of the Thayer Group, Lexington, Ky., and Keith McGuire of Commercial Property Resources.
Details of the proposed development were not released at the commission meeting. However, if the application is approved then the county acting as a tax exempt conduit would be supplied details.
Share This Story:
Make HNN Your Homepage (IE Users Only)
Huntington Development Asks for $50 Million in Federal Recovery Zone Bonds
By Tony Rutherford
Huntingtonnews.net Reporter
Huntington, WV (HNN) – The devil will be in the details, but the preliminary hints imply a possible $50 million dollar commercial and/or residential development for Huntington and/or Cabell County.
The Cabell County Commission on Thursday, April 29, gave support to the application of RiverPlace, L.L.C. for Federal Recovery Zone Facility Bonds. Recovery Zone Facility Bonds are a new type of tax exempt private activity bond created by the American Recovery and Reinvestment Act, passed by Congress in February 2009. They may be used to finance certain kinds of business development activities in areas of significant economic distress.
Principal partners in the project are Brad Burgess of the Thayer Group, Lexington, Ky., and Keith McGuire of Commercial Property Resources.
Details of the proposed development were not released at the commission meeting. However, if the application is approved then the county acting as a tax exempt conduit would be supplied details.
Share This Story:
Make HNN Your Homepage (IE Users Only)
