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I can sort of see both sides, though I am more sympathetic to the current property owners who aren't getting the tax breaks.
But the reason I say I can see the other side is because throughout all of our tax codes there are tons and tons of exceptions for certain groups. Homestead exemptions, people who live in their properties vs those who don't, in income tax there are sometimes benefits for being married vs not. Social incentives are built into all of our tax laws. I don't think it's fair but it just seems our government historically used the tax code to shape social policy and provide incentives to certain businesses. Always been that way.
To me this isn't much different in an overall sense than wal-mart complaining about amazon getting special tax breaks to come to cayce. It doesn't seem fair to me but then again the whole tax code seems whacked out and overly complicated so how is this really any diffferent other than in perhaps legal technicalities.
I will say I don't mind them fighting/suing for fairness. This is all a game. If you can fight and not have to pay as much tax good for you!
Tax breaks are given to companies that would contribute to the economy more than the loss of tax revenue. This is why the mayor set up a minimum amount price tag on projects that would qualify for the deduction. What I think is messed up is how the city is giving land to student apartment developers and classifying it as a "park". Personally, I think the land should be given to multinational companies that would be able to set up roots in Columbia and add high paying jobs.
Tax breaks are given to companies that would contribute to the economy more than the loss of tax revenue. This is why the mayor set up a minimum amount price tag on projects that would qualify for the deduction. What I think is messed up is how the city is giving land to student apartment developers and classifying it as a "park". Personally, I think the land should be given to multinational companies that would be able to set up roots in Columbia and add high paying jobs.
So the economic contribution of the apartments that were built, say, a year before the time frame when the city started allowing half off property taxes is just chop liver ? ??
So the economic contribution of the apartments that were built, say, a year before the time frame when the city started allowing half off property taxes is just chop liver ? ??
Nobody is saying that. The city is in a position where they have to sink or swim. That is why they are aggressively trying to rejuvenate the center as fast as they can. The mayor clinged onto the most stable source of income for the city and that's students. Thanks to state politics, blue collar jobs where given preference to white collar jobs incentive wise. This is coming to haunt Columbia now. The mayor knows that the only way that Columbia will grow is partnership with the university. I don't agree with it necessarily, but it's the best hope for high paying non-industrial/agricultural jobs.
Downtown Columbia now has 5000 residents. Although student housing projects started the population boom, that is expected to taper off. About 1000 market-rate (i.e., non-student housing) apartments are expected to come online soon.
Downtown Columbia now has 5000 residents. Although student housing projects started the population boom, that is expected to taper off. About 1000 market-rate (i.e., non-student housing) apartments are expected to come online soon.
Downtown Columbia now has 5000 residents. Although student housing projects started the population boom, that is expected to taper off. About 1000 market-rate (i.e., non-student housing) apartments are expected to come online soon.
They were right, the momentum would continue. The student housing boom would lead to non-student housing construction as well. I wonder if its enough to keep pace population wise with Charleston? All of this would take effect much later.
They were right, the momentum would continue. The student housing boom would lead to non-student housing construction as well. I wonder if its enough to keep pace population wise with Charleston? All of this would take effect much later.
Don't forget about the additions to Canalside, the old Farm Credit Bank, etc., too.
Also guys in addition to twisted spur which opens in a couple weeks on Gervais. Rught next to war mouth we're getting another brewery cotton town brew lab this summer
Also guys in addition to twisted spur which opens in a couple weeks on Gervais. Rught next to war mouth we're getting another brewery cotton town brew lab this summer
They were right, the momentum would continue. The student housing boom would lead to non-student housing construction as well. I wonder if its enough to keep pace population wise with Charleston? All of this would take effect much later.
Charleston has stretched its city limits so far out into West Ashley that the population addition should be pretty big as the new apartments buildings and housing subdivisions that are being built now become inhabited. There are many. And then there's the upper peninsula's addition of student apartments and other apartment buildings. And then there's Daniel Island. It will be an interesting race.
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