Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Legislation topic
No spam. Unsubscribe anytime.
CDC board discusses state bill to reinstate Economic Development Act and considers proactive name change
Summary
Board members reviewed South Carolina Senate Bill 856 (to reinstate the Community Economic Development Act, expired June 2023) and discussed changing the organization's legal name to add 'Economic' so it can grant and lend public funds irrespective of state action; staff will consult legal counsel and continue monitoring the bill.
At its March meeting, the Gullah Geechee Historic Neighborhoods CDC board reviewed South Carolina Senate Bill 856, which Executive Director Thomas Foxley described as a measure in the Senate Finance Committee to reinstate the Community Economic Development Act that expired in June 2023.
Foxley told the board the bill — if enacted — would restore the statutory authority the organization relied on for grant and loan activity. He said the CDC also has an internal option should the bill fail: to change its legal name to include the word 'Economic' (for example, to the Gullah Geechee Historic Neighborhoods Community and Economic Development Corporation), which legal counsel suggested may clarify the organization’s capacity to administer public grant and loan programs. Foxley said he would consult legal counsel again before any formal name change.
Board members broadly supported exploring a name change proactively while continuing to track Senate Bill 856. One member reported outreach to Senator Davis for an update and several members urged that Foxley coordinate with legal counsel and bring back a recommendation to the board.
No formal vote on a name change or legislative position was recorded; the board directed staff to follow up with legal counsel and to continue monitoring the bill’s progress through the state legislature.
