Morgantown agency seeks funding for property management efforts

Morgantown's Land Reuse and Preservation Agency (LRPA) is looking for ways to generate revenue. During a recent planning meeting, members developed a list of tasks, with the primary focus on finding funding to support their work. This includes buying and managing properties for conservation, public spaces, affordable housing, and commercial use. To start this process, the agency has asked Development Services Director Rickie Yeager to provide data on revenue from various city fees. These fees are tied to permitting, rental inspections, and registering vacant properties. The agency is exploring whether parts of these fees could help finance its operations, either through a portion being allocated to them or a potential increase in fees. LRPA Chair Jessica McDonald emphasized the need to see financial data before approaching the city council about possible fee increases. She wants to understand how much money could be generated from small adjustments in fees and would like to explore various options before making formal proposals. Morgantown's agency, established in late 2018, was one of the first in West Virginia. Its initial project involved purchasing the Spruce Center building, located near City Hall, financed through a $1.6 million loan. The agency currently generates income by leasing office space in the building. In recent times, the LRPA has focused on acquiring properties in the Greenmont area and is also interested in other underutilized sites across the city. In April, they plan to meet with city council representatives about transferring unused city parcels to the agency. McDonald noted that flipping properties is a common revenue strategy for similar agencies, and she believes the LRPA could pursue both flipping properties and securing a steady funding source.