MORNING HEADLINES | Charleston County Council on Tuesday voted to approve its participation in the Union Pier Tax Increment Financing (TIF) plan a day after the Charleston County School District voted to do the same.
County council members voted 8-1 to approve the measure after less than 15 minutes of debate. The lone holdout was North Charleston council member Henry Darby, who said he would support the project if some revenue were set aside to help residents currently living around Union Pier pay their property taxes, which could skyrocket after the redevelopment.
Council member Robert Wehrman, whose district includes Union Pier, was initially skeptical, according to reports. But he said he feels the city has added adequate guardrails to ensure the site is built out and keeps with the public’s interest.
By participating in the TIF, the two public bodies will waive any new property tax revenues generated by development on the site for up to 30 years. Those gains will instead be deposited into a bank account controlled by the city of Charleston to fund public infrastructure projects within the designated zone.
With both the county and school district agreeing to the TIF, the plan returns to Charleston City Council for final approval.
The Union Pier project is set to bring in $47 million annually after 30 years, according to estimates by Charleston Mayor William Cogswell. About half of that would go to local schools. The county and city would each get between $12 million and $15 million, according to the city’s projections.
The school board voted Monday to approve the TIF in a 5-4 vote. Board chair Keith Grybowski, alongside trustees Carlotte Bailey, Ed Kelley, Pamela McKinney and Leah Whatley voted in favor of the measure. Trustees Daron Calhoun, Darlene Roberson, Carol Tempel and Courtney Waters voted against it. This represents another faction-line vote since the Moms for Liberty–backed majority of the board took power in 2022.
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