George's Information and Comments

Growth Impact Action Committee

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Getting New Developments to Pay for the Public Schools They Need

6/23/08 Updates in the green text that follows

6/21/08 Updates in non-underlined blue text

The S. C. General Assembly has just passed the S.C. Residential Improvement District Act that specifically names public school facilities as facilities among those whose costs  may be included in additional taxes to be paid by owners in a development within a special tax residential improvement district. 

Click here to view the PowerPoint presentation given to Horry County council on June 17, 2008 at the second reading for Carolina Station development agreement approval. It shows how Horry County Council can require this and implores council to include all new developments larger than 24 acres in such special tax residential improvement districts. (Click the blocks of text in the left frame from top to bottom to view successive "slides" in the presentation.)

Click here to view a PowerPoint presentation similar to those given to the Horry County council Administration committee on June 19, 2008 and the Public Safety committee on June 23. The "Developer Agreement" slide under "phasing taxes" adds "(e.g. bond for a particular school triggered when an agreed number of homes are built)" and a "Steps" slide bulleted item is rephrased to "Establish safeguards such as performance bonds or letters of credit.  This cites authority for the solid legal basis for a residential improvement district including schools and corroboration of the overall per Carolina Station home cost estimate for public school facilities being "bare bones." It further details the reasoning, the bases for the reasoning and the calculations used in the June 17, 2008 presentation to County Council. (Click the blocks of text in the left frame from top to bottom to view successive "slides" in the presentation.)

Click here or the corresponding item in the left-hand menu to read the full text of the S.C. Residential Improvement District Act as passed by the S.C. General Assembly.

Click here or the corresponding item in the left-hand menu to read about an early version of the Residential Improvement District Bill that discusses details that remain in the act.