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Administrative Law

Meeting Notice Detail

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West Virginia Economic Development Authority
Date/Time: 6/16/2022 -- 9:00 AM
Location:
Telephonic meeting  
Dial-in information:

1-888-273-3658
Participant code:  9045340
Purpose: NOTICE OF PUBLIC HEARING

$10,000,000

West Virginia Economic Development Authority

Dock and Wharf Facilities Revenue Bonds

(Empire South Terminal of West Virginia, LLC Project)

Series 2022

Notice is hereby given of a public hearing to be held on behalf of the West Virginia Economic Development Authority (the Authority), on Thursday, June 16, 2022, at 9:00 a.m., at 180 Association Drive, Charleston, WV 25311, with respect to the issuance from time to time as a plan of finance of one or more series of bonds (the Bonds) in an aggregate principal amount not to exceed $10,000,000, which may include refundings thereof, by the West Virginia Economic Development Authority. Proceeds of the Bonds will be loaned to Empire South Terminal of West Virginia, LLC, a Delaware limited liability company, or an affiliate thereof or related person thereto (the Borrower), to finance or refinance the costs of acquiring, constructing, rehabilitating, developing, improving and equipping capital improvements, equipment, land and infrastructure and pay related financing costs with respect to dock and wharf facilities within the meaning of Section 142(a)(2) of the Internal Revenue Code, located on approximately 24 acres of land at Koppers Road at the Ohio River, Follansbee, West Virginia, including asset acquisition; repair, recertification and repurposing existing storage tanks; design and construction of new hydrogen and petrochemical storage tanks; construction of loading/unloading port stand to support tank farm; construction of pier loading and fueling station; construction of fire suppression and fire support station; relocation of existing utilities; stormwater drainage system improvements; improving road and rail access; demolition of old tanks; improving dock walls and mooring cells; construction of a barge-rail spur; construction of dock-side warehousing and other real and personal property to be constructed and equipped (together, the Project). The initial owner or operator of the Project will be the Borrower. The Borrower proposes to transfer ownership via capital lease to The County Commission of Brooke County, West Virginia (the County), and to re-lease the Project from the County.

The Bonds shall not constitute an indebtedness of the Authority but shall be limited obligations of the Authority, payable solely from loan repayment proceeds or other revenues to be derived pursuant to a loan agreement to be entered into between the Authority and the Borrower. Neither the Bonds nor the interest thereon shall constitute a debt or pledge of the faith and credit or taxing authority of the State of West Virginia or of any county, municipality or any other political subdivision thereof.

The public hearing will be conducted by the Executive Director of the Authority. All interested persons are invited to attend such public hearing to express their views with respect to the nature and location of Project and the Bonds. To promote and protect the safety of both the public and the Authoritys staff in light of the COVID-19 pandemic, in lieu of physical presence at the public hearing, attendance will be solely by telephone. All those wishing to participate may call-in by toll free number at 1-888-273-3658, Participant Code: 9045340. Interested persons may submit their views in writing, or questions or requests for additional information may be directed, to Kris Warner, Executive Director, West Virginia Economic Development Authority, 180 Association Drive, Charleston, WV 25311 or e-mail kris.e.warner@wv.gov on or before 9:00 a.m. on June 16, 2022. This notice is published and the hearing is to be held in satisfaction of the requirements of Section 147(f) of the Internal Revenue Code of 1986, as amended.

West Virginia Economic Development Authority

Notes:
Meeting was approved : 6/7/2022 12:01:33 PM

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Thursday, July 7, 2022 — 10:02 AM