Georgetown City Council unanimously approved a resolution at the Nov. 14 meeting to enter into a “tax increment financing intergovernmental agreement” with the Georgetown County School District that will still need to be taken up and voted on by the school board.
TIFs allow municipalities to divert property tax revenue away from typical uses to instead pay for projects related to economic development and revitalization. That includes tax revenue normally meant for the school district or county. Getting the school district to sign off on allowing the city to allocate a portion of their designated revenues will be key to moving the city’s plan forward.
Council approved year-end bonuses of $52,050 for full-time and part-time employees. 171 full-time employees receive $300 and five part-time employees will receive $150. Funding for the bonus came from a return of surplus and a worker’s compensation audit refund from the South Carolina Municipal Insurance Trust.
Winyah Fishing Village
Council voted down an ordinance that would have reversed the Winyah Fishing Village zoning from Planning Development to General Commercial. City staff recommended council allow the developers keep current zoning until Dec. 31, 2022. At that time, the Army Corp. of Engineer permits will expire. In 2017, Council approved rezoning 10 acres of marshland located between the Black River and two hotels along . Highway 17 to allow for the planned Winyah Fishing Village. The developer has plans to build small residential units on pilings with docks leading to the river, according to documents. The ordinance rezoned land from General Commercial to Planned Development and was set to revert to General Commercial if no progress on the development after a certain amount of time.
Council also approved authorizing a funding source for the city hall rebuilding project. The project is estimated to cost $6 million. Half of the funding will come from the insurance settlement from the former building and the sale of Eagle Electric property. The remaining will come from the General Fund and the Enterprise Fund.