The Municipal Improvements Act of 1999 enables cities and towns in South Carolina to establish Municipal Improvement Districts (MIDs). A MID is an area in which a special fee may be assessed to property owners in addition to their normal property taxes. Money generated by a MID may only be spent within the same MID area on improvements.
A Business Improvement District (BID) is a type of MID that focuses on a particular business district. Unlike other MIDs, BID funds are often administered by a non-profit organization that represents the members of the district. There are 100s of BIDs around the country, with the closest example being Columbia, SC's Main Street District.
All other parcels which have any frontage on King Street between Line Street and Broad Street will be billed no more than $0.0113 per dollar (per $1.00) of assessed value annually over a period of 10 years. This includes air rights parcels (condo units) which are above a ground parcel that has King Street frontage.
All of King Street itself and the associated right of way between Line and Broad Streets, including sidewalks and intersections, is also included in the District.
The BID is authorized for a 10-year term with the following budget:
|Improvements||Estimated Total Costs|
|Street Services/Ambassador Program||$3,500,000|
|Overhead Management Costs||$1,500,000|
These services will be performed in addition to, not in place of, existing services performed by the City. The City will continue to maintain its current level of service delivery.
It is estimated that roughly 55% of the budget (approximately $5,995,000 over the 10-year term or $600,000 annually) will come from the special assessment, while the remaining will come from:
Please reach out to Meg Thompson, Director of Business & Neighborhood Services, (contact information at the top corner of this page) if you have additional questions.