Long-awaited Kline development downtown could get help from special tax district
A special, and potentially controversial, tax district could help pay for public projects to spur the highly anticipated development of the former Kline Iron & Steel Co. site at a major gateway to downtown Columbia.
Columbia City Council is considering creating what’s known as a “tax increment financing,” or TIF, district to encompass the planned $100 million development at the corner of Huger and Gervais streets next to the State Museum.
If the plans materialize, all property taxes generated by new construction in the tax district would be funneled right back into the district for specified projects.
Council had planned to vote Tuesday to set a public hearing date in April for residents to comment on the potential TIF district. But that vote was deferred.
The Kline development is expected to include roughly 350 apartments, a 140-room hotel, stores, restaurants and offices. Greenville developer Homes Urban LLC is behind the project, which would fill one of the largest undeveloped tracts remaining in the city’s core.
It has now been about two and a half years since plans for the development were released.
Adjacent to the site, on Huger Street, separate plans call for a supermarket, 177 apartments and drive-thru restaurant. Those plans are in the early stages.
TIF districts are intended to entice private development to blighted areas by providing public infrastructure and amenities.
The Kline redevelopment tax district would use up to $27.5 million in property taxes to pay for:
▪ Two public parking garages totaling 700 parking spaces;
▪ A pedestrian plaza;
▪ Street improvements;
▪ Upgrades to existing water, sewer and stormwater systems;
▪ Renovations and additions to existing structures;
Any TIFs in Columbia require the approval of Richland County and the Richland 1 school district, as they involve property taxes being diverted from other public needs.
In the 1990s, TIF districts paid for public infrastructure in the Vista and are credited with the now-booming area’s revitalization.
Reach Ellis at (803) 771-8307.
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Other council actions Tuesday
▪ The late Durham Carter, a well-known, long-time community activist in downtown’s Martin Luther King neighborhood, will be honored with the renaming of a community center at MLK Park.
City Council voted Tuesday to rename the community center the Durham E. Carter Community Center at Martin Luther King Jr. Park.
Carter died Dec. 17 at the age of 88.
▪ The city’s flag – yes, apparently the city has a flag – is getting a makeover.
Council approved a process for the Columbia Design League and One Columbia for the Arts to spearhead a call for submissions for new designs. Ten finalists will be chosen, and a panel of stakeholders and experts will recommend one final design to City Council.
This story was originally published January 10, 2017 at 7:51 PM.