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Real estate committee reports approval of industrial park amendment, lease extension and annexations; city to pursue parcel acquisition near Holiday Inn
Summary
Chairman Tinkler reported the real estate committee unanimously approved an amendment to a multi‑tenant industrial business park in the city’s TIF, extended an HR Charleston 9 lease for one year to cover operations, approved nine residential annexations, and entered or will enter an agreement with a Holiday Inn developer to acquire a lot and secure a public easement to connect Highway 61 to the future Ashley River Crossing.
Chairman Tinkler reported to the Committee on Ways and Means on May 12 the outcomes of the April 27 Real Estate Committee meeting.
The committee unanimously approved an amendment to a multi‑tenant industrial business park that is inside a TIF district; the amendment was described as having minimal revenue impact, with $940 recorded for 2024. The committee also approved a one‑year extension to a lease with HR Charleston 9 for the city operations center on Milford Street while a new operations complex is built.
Tinkler described a planning item to acquire a parcel adjacent to a Holiday Inn between bridge approaches and to secure a public easement from the developer to build a pedestrian link. The acquisition and easement are intended to allow construction of a sidewalk from Highway 61 to the future Ashley River Crossing. The transcript records the hotel name and the planned connection; details and final acquisition terms will be subject to negotiation and subsequent approvals.
Finally, the real estate committee approved nine residential annexations unanimously. Tinkler closed his report and the full committee approved the report by voice vote.
