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City outlines Project 3500 plan and proposes TIF funding and $18M property purchase
Summary
City staff presented Project 3500, a design‑led affordable‑housing initiative focused on the peninsula that would use procurement to reduce entitlement risk; an initial funding plan proposed roughly $5,000,000 from the Cooper River Bridge TIF plus an $18,000,000 purchase of a Longshoreman property.
City staff presented Project 3500 at the April 23 council meeting as an initiative to accelerate affordable housing delivery on the peninsula and across the city by having the city lead early design work and reduce entitlement risk for private-sector partners.
Staff said the initiative would put the city in the role of…
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