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Newspaper
Aiken Standard
Location
Aiken, South Carolina, United States of America
Date
Sep 08, 2013
Page
16
Glover defends extending the 1996 TIF to 460 acres along the Savannah River for Project Jackson. The plan seeks private 101 million in investment with 29 percent public funds. County officials discuss 30 year participation and tax deferrals while residents voice concerns over value, risk, and guaranteed rebates.
The private sector plans to invest 101 million dollars into the project including hotels, restaurants and retail. Public funds would be about 29 percent of total cost with expected 19.6 million from accommodation tax revenues and 7.2 million from hotel and stadium parking plus 9.6 million in stadium revenues. Critics say tax dollars could fund county needs like employee pay raises, while supporters argue the project will expand the tax base and drive sales tax revenue. The initiative could attract visitors from across the Savannah River and create jobs in North Augusta and Aiken County.
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