Rock Hill council OK’s $50k in economic incentives

Posted August 12, 2014 12:04 am | Filed under Featured, Local News

Two privately-funded construction projects within the confines of Rock Hill’s Old Town District have been awarded economic incentive grants to pay for thousands of dollars in city fees.

Rock Hill City Council approved the grants Monday with little discussion, awarding $6,843 in funds to offset permitting and review fees for the AME Zion Conference Center at 754 Saluda Street, as well as $43,250 for impact and permitting fees for Family Trust Credit Union’s new corporate headquarters on White Street.

“It’s a part of the economic development package that the city brings for development in the area of the textile corridor,” Family Trust Vice President for Governmental Relations David Casey said. “It’s an economic driver that will help us avoid some of those costs with our major investment to our new headquarters on White Street.”

The program was birthed in 2005 as a way to support new investments in targeted areas of the city, documents supplied by the City of Rock Hill show.

An ad-hoc committee appointed by the City Manager reviews applications for those incentives, judging them for their location, approved use and meeting the city’s design standards.

Funding for the program comes from the sale of city-owned property for economic development purposes. With the city’s recent sale of property near the Rock Hill Airport to the QuikTrip Corporation, $1 million was added to the grant fund balance that now stands near $3 million.