Opportunity Zone Credits Help Break Ground for Tech Office in Charleston’s Upper Peninsula

After many years of delays, construction for the long-delayed $54 million development for the Charleston Tech Center is underway on land the city acquired six years ago at 997 Morrison Drive. The Charleston Digital Corridor holds a 99-year-long lease on the upper peninsula property, where 92,000 square feet of office space is expected to be completed by the end of 2020 for use by emerging tech companies. Opportunity Zone tax credits for private investors became one of the final pieces of the puzzle to fund the project that once was expected to open in 2016. “I don’t think it’s a coincidence that it all came together once the designations were there,” said the senior managing director of Hunt Real Estate Capital, which was introduced as the project’s newest investor.

Travelers Rest Considers Tax Increase to Cover Competitive Wages for Firefighters, Police

The necessity for the Greenville County city of Travelers Rest to hire and retain firefighters and police officers is leading to a first reading and public hearing on a proposal to raise millage rates on Thursday for what would be the municipality’s first tax increase in more than 20 years, according to the mayor of the city of nearly 5,000 residents. If approved, the city’s 2019-2020 budget would get a line item to boost the salaries of its 36 first responders by a collective 14.1%, making it competitive with surrounding agencies. The new 9.8 millage rate would mean median home value owners would pay about $70 more per year.

Greenville-Spartanburg Airport Lauded for its Financial Reports

After Greenville-Spartanburg International Airport forwarded its first comprehensive annual financial report for review, the Government Finance Officers Association of the United States and Canada bestowed a Certificate of Achievement for Excellence in Financial Reporting Award. The GFOA’s impartial panel confirms that documents meet the program’s standards while communicating an organization’s financial story in a way that encourages users to read it. “This award is only given to those willing to share more than the minimum requirements in financial reporting,” said the airport’s CFO and senior vice president of administration and finance.

Spartanburg City Council Continues Investigation on Safe 5G Implementation

With the installation of the next generation of the 5G wireless technology on the horizon, the Spartanburg City Council will continue its discussions in a July 22 meeting after the local advocacy group Stop 5G Spartanburg voiced concerns on long-term safety issues and the effect on property values that would come when 5G wireless signal boxes are installed through the city. The city attorney does acknowledge that the council’s authority would be overridden by federal legislation, such as the Telecommunications Act of 1992, but the city is trying to learn what aspects of box installation can be controlled, such as collecting rents for boxes on public right of ways and the aesthetics of the boxes.