Mayor Laura White-Brown shared an update on Morehead’s Tax Increment Financing Board at Tuesday night’s city council meeting.
White-Brown said just before winter holidays, she and other city officials received a meeting request from the developers on the Downtown Morehead Hotel project. Progress on the effort has been stalled for months, with developers, Morehead City Council, the TIF Board and the Rowan County Fiscal Court unable to come to an agreement on a requested extension on the project and proposed deadlines to begin and complete construction.
White-Brown said in their response to the meeting request, she, along with county and city officials, said they need concrete information in order to proceed with a meeting.
“If you would like to come and make a presentation with specific requests, a specific timeline, to show financing and what you have in place to move forward, we will set up a meeting with the TIF Board, present it to them, and then go from there,” she said. “But, it doesn’t need to be a meeting just to say, ‘We need more time.’ We need something substantial put in front of us to show that you have some ground to kind of move forward.”
White-Brown said she sent her response around 10 days ago and has not received further correspondence from the developer at this time.