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Council certifies former Farmers & Merchants Bank building as textile mill site to allow state tax credits
Summary
The Aiken City Council approved second reading to certify the former Farmers and Merchants Bank building on Lawrence Street as a textile mill site under the South Carolina Textile Communities Revitalization Act, enabling the owner or developer to pursue state income tax credits for an adaptive reuse project proposed as an 80-room hotel.
The Aiken City Council on Oct. 13 gave second reading and approved an ordinance to certify the former Farmers and Merchants Bank building on the 100 block of Lawrence Street Southwest as a textile mill site under the South Carolina Textile Communities Revitalization Act (Title 12, Chapter 65 of the South Carolina Code of Laws of 1976, as amended).
City staff said the certification would allow the building’s owner or a developer to qualify for state income tax credits intended to encourage adaptive reuse of properties with textile-related histories. The applicant…
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