West Ashley Targeted for Revitalization Project:

New life could be pumped into the West Ashley section of Charleston. The Charleston County Council is considering a Tax Increment Financing plan to fund a major revitalization project. Even though the plan did not garner support from a majority of the County Finance Committee, the County Council will go ahead and vote on the matter at its November 22nd meeting.

 

Much of the proposed redevelopment focuses on the Sam Rittenberg Corridor. The project calls for the construction of affordable and workforce housing, the redevelopment of the Citadel Mall, new drainage, and beautification efforts. Elliot Summey, the chairman of the Charleston County Council, said the residents of West Ashley deserve this revitalization project. The economic downturn has taken its toll on this part of the city. The past several years have seen numerous businesses leave West Ashley and no new ones entering to take their place, and the infrastructure falling into disrepair. Your text to link…

 

Under the Tax Increment Financing, or TIF, the taxes from increased property values would go to fund the improvement project. The TIF would be in place for 25 years and should raise an estimated $69 million, though that is expected to cover only a portion of the cost of this revitalization project. The TIF needs the approval of both the Charleston County Council and the local school board before it can be implemented.