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Columbia council approves two business park districts to fund riverfront park and convention center work
Summary
City council voted unanimously to create two multi-county business park districts that will dedicate half of new property-tax revenues within each district to long-term operations for the Congaree Riverfront Park and for future convention center expansion; city officials emphasized this is a revenue redistribution, not a new tax.
Councilman and staff supporters framed two ordinances approved on first reading as a long-term funding mechanism for major city amenities, and the City Council voted unanimously to approve both items on the motion for first approval.
Assistant City Manager and CFO Jeff Palin told council the two intergovernmental agreements create business park districts that will use new property-tax revenues generated within district boundaries to pay for long-term operations and maintenance. "This is not a new or additional tax, just a redistribution of what would normally be…
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