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  1. The city council approved a development framework for property in Livermore/Las Colinas.

Elkins City Council Approves Use of City Property as Collateral for MVB Financing

1 report, 1 independent Updated Fri 00:00
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What happened

Some supportReported by 1 outlet

The Elkins City Council approved Ordinance 353, which transfers the City Hall parking lot and the Elkins Fire Department to the Elkins Municipal Building Commission. This action provides additional security for Mountain Valley Bank’s permanent financing of the City Hall renovation project.

From theintermountain.com

Why it matters

Some supportBrind's analysis of the reports

The financing secured by Mountain Valley Bank includes a principal amount of $4,108,000, a 32-year term, and a fixed interest rate of 4.75 percent. This funding is intended to restore City Hall, which has been closed since August 31, 2024, following a sewage overflow incident.

City Hall has been closed for restoration and recovery work since August 31, 2024, after a sewage overflow incident flooded the building's basement and first floor.

From theintermountain.com

Who's involved

  • MVBSecured financing for the City Hall renovation project
  • city councilApproved the ordinance allowing city properties to be used as collateral

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The city council approved a development framework for property in Livermore/Las Colinas. All 1 developments

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