The Exponent Telegram

Darlene J. Taylor, STAFF WRITER

Clarksburg (Friday, July 4, 2003)

Area residents soon will have the opportunity to comment on two development projects in the Bridgeport area that could mean millions of dollars of investment in Harrison County.

Project representatives went before the Harrison County Commission Thursday to ask for support from tax increment financing for Charles Pointe and the Pete Dye Golf and Sporting Club.

James Corton, managing partner; Robert Stuart, director of development for Genesis Partners/Charles Pointe; and their legal counsel, Vince Collins, unveiled the 2,000-acre development area to be considered for the first tax increment financing (TIF) district in the county.

The Charles Pointe project also is expected to receive $6 million in state economic development funds, according to Corton.

He said the project's $1 billion master plan includes business, recreation, residential and multi-family residential areas.

"TIF is a great tool for West Virginia to maximize development and growth in the state," Corton said.

James J. LaRosa and Roger Stevens presented the County Commission with a TIF development district and project plan for the Pete Dye Golf and Sporting Club. Collins also represented Pete Dye in its request for TIF consideration.

The three-phase Pete Dye project encompasses 1,492 acres that will include 375 units and lots, as well as recreation amenities. Phase One deals with infrastructure for the entire project, with a price tag of about $14 million.

LaRosa estimated it will take 5 to 7 years to complete the $35 million to $40 million project.

"TIF is a wonderful opportunity for the county and the entire state, which 46 other states already take advantage of," said LaRosa.

Public hearings are scheduled at 7:15 and 7:45 p.m. Aug. 14 on the Charles Pointe project and the Pete Dye project, respectively, in the County Commission hearing room.