Morehead Mayor Laura White-Brown has appointed two new members to the Tax Increment Financing Board. New City Councilman Lincoln Caudill and local businessman Wes Holland take the seats of former members Jim Tom Trent and Dan Markwell. Among other things, the TIF Board is responsible for overseeing and voting on actions regarding the proposed hotel in downtown Morehead.
White-Brown said she chose Holland to fill a seat on the board because of his longtime involvement in the community, as well as his financial expertise.
“He owns Edward Jones here in town. He has a vast knowledge of finances and financial stability, as well as economic development with large projects. So, I really respect his value and knowledge there, and I think he’s bringing a great piece to the board,” said White-Brown.
This comes a week after a group called Citizens for a Better Morehead Kentucky held a public meeting with the developer of the proposed hotel. Councilman Caudill attended that meeting.
“It was a fact-finding mission for me, much like these City Council and the TIF meetings will be for me in the future. I’m coming into this in the middle of someone else’s term. So, I’m trying to get my feet under me on all these issues,” said Caudill.
The new councilman said he plans to be well informed when the time comes to make a statement or make a vote for the TIF Board and City Council. It’s not known when the next TIF Board meeting will take place.
There are differing claims about why the downtown hotel project is stalled. The developer, Timothy Pitcher, said City Council and the Rowan County Fiscal Court will not hold a vote on an extension, so his firm, Whitestone Resources, cannot continue with planning. The Mayor and Judge Executive’s offices said Whitestone has failed to come to an agreement with the TIF Board on requested dates for starting work at the site and financing.
