CHARLESTON, SC (WCSC) - The Charleston County School Board will hear a proposal from the City of Charleston on Monday that would take a portion of the district’s taxes to help pay for flooding issues in the church creek drainage basin.
The money from taxes would be in the form of a TIF, or tax increment financing, that would use taxes from increased property values in a particular area to invest back into the area for public improvements.
Jacob Lindsey is the City of Charleston’s Director of Planning, Preservation, and Sustainability and said on Monday that the proposed TIF would act as a savings account.
“It sets aside taxes that otherwise would be paid into a special account which can only be spent for infrastructure. In our case that means flooding and drainage,” Lindsey said.
Lindsey said if approved, a portion of CCSD’s taxes would be spent solely on drainage and flooding in the church creek basin that is in West Ashley.
“What we are asking those groups to do is set aside a portion of their property taxes in those areas specifically to be spent on drainage and flooding,” Lindsey said. “Every house hold that has children has to be able to get to school and work and they’re ultimately impacted by flooding in the church creek area. Funds spent to do this can help those who have children that are going to school.”
CCSD also participated in a TIF with the city in 2016 to assist in revitalizing the Sam Rittenberg corridor in West Ashley.
The Charleston County School Board will hear the TIF proposal in Monday afternoon’s board meeting. The city’s proposal will take place in executive session.
This is a developing story and will be updated as more information becomes available.