RICHLAND COUNTY, SC — Richland County has called a public hearing for Tuesday on a proposal committing up to $110 million to attract development to two blighted areas of Columbia.
The 6 p.m. meeting on establishing “tax-increment financing” districts – one in north Columbia, the other along the riverfront – will be at the county administration building, 2020 Hampton St. Columbia City Council has the matter on its Tuesday agenda for a vote as well.
If approved by the city, county and Richland 1 school board, all new property taxes collected in the two areas for the next 15 years would be devoted to such things as street and utility projects inside the districts. The districts do not increase property taxes but instead reserve new money from growth for the special projects.
County Council approved the TIF districts on preliminary votes Nov. 20. The north Columbia district passed 6-5, and the riverfront district passed 8-3.
City Council gave a preliminary vote of approval in August. It was unclear Friday whether the school board has voted.