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Kiawah River Plantation TIF Defeated
Kiawah River Plantation is a 1,400 acre planned development approved by the Charleston County Council in 2009. The developer, The Beach Company of Charleston, was seeking government financing in the form of tax increment financing bonds (TIF) to complete the project. At a County Council meeting on May 2, Colin Cuskley, the Conservancy Executive Director gave a citizens presentation representing the position of a number of community groups, on why the financing should not be approved. The County Council subsequently decided unanimously to deny the TIF. The Beach Company will now reevaluate their plans for the Kiawah River Plantation and may make a different proposal for a TIF or possibly a public service district.
For more background information in the Kiawah River Plantation, see our post. And for the nitty gritty details of the development agreement with the County see KRP Details or read our report here (PDF version).