Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Housing topic
No spam. Unsubscribe anytime.
Committee recommends $176,960 impact-fee refund for Garden Oaks affordable housing, 5-3
Summary
The committee voted 5-3 to recommend that county council approve a $176,960 reimbursement of development impact fees for Garden Oaks, an affordable housing project that the developer says will keep 100% of units restricted at 60% AMI for 30 years; some members expressed reservations about refunding the amount to a development entity.
The Finance committee recommended to county council on May 18 that the county refund $176,960.16 in development impact fees to the Garden Oaks affordable housing development. The committee vote was 5 in favor, 3 opposed.
Emily Zakon, attorney for GDA Development Partners, told the committee the project is structured so "100% of the units are reserved for tenants who make 60% or less of AMI," and that the affordability restriction is in place for 30 years, with the property owned by a nonprofit. She said the South Carolina State Housing Finance and Development Authority will monitor compliance and that quarterly reporting and potential clawbacks of LIHTC equity are part of the regulatory oversight.
Some committee members expressed reservations about the size of the refund and the precedent that could set. "I have some misgivings due to the amount of the money," one member said during debate, noting a preference for directing smaller refunds to owner-occupied or nonprofit-led developments such as Habitat for Humanity in earlier county actions.
The motion to recommend the refund was made and a roll-call vote followed; the committee recorded the motion as passing 5-3. Committee staff confirmed the recommendation will move to county council as an ordinance for formal action.
Next step: the matter will appear in the county council packet for consideration as an ordinance; committee recommendation is advisory and final approval rests with council.
