MORGANTOWN, W.Va. — WVU spokesman John Bolt said information presented at two recent public meetings by James Giuliani, Rick Biafora, Dave Biafora and Brian Edwards misrepresents the financial impact that public/private developments will have on the city and county.
Edwards and Rick Biafora spoke to the board of education and Giuliani to the county commission about how WVU public/private deal are bad for tax-collecting entities and taxpayers. In both instances they asked for support in standing against such deals.
According to Bolt:
The city of Morgantown will receive an estimated $31.24 million — $5.31 million in B&O taxes during construction; $18.79 million in rent-generated B&O taxes; $2.5 million from B&O taxes on commercial sales and $$4.64 million in fire service fees.
Monongalia County will receive an estimated $12.5 million — $5.28 million in personal property taxes and, with respect to the commercial portions of the students housing projects, $7.2 million in developer-paid fees to be treated as real property tax.