AIKEN, S.C. (WJBF) — Aiken City Council approved the first reading of an ordinance offering incentives to Great Southern Homes for hundreds of planned homes on the city’s northside.
The budget for construction is approximately $9 million.
“Our incentives will allow for projects to be reimbursed for a period of up to five years,” City Manager Stuart Bedenbaugh told council members. Since it is a construction project and not a traditional brick-and-mortar business, the city is recommending one year’s worth of expenses to be reimbursed. “The bulk of expenses for the investor will be in the first year fees and expenses will be reimbursed at a rate of 50% and will be available beginning one year after a certificate of occupancy is issued for all units,” Bedenbaugh added. The city is expected to make the reimbursement in three equal payments over a three-year period, “which includes permit fees, business, license fees, and water and sewer tap fee reimbursements in an amount not to exceed $243,520,” he said.
The City of Aiken Municipal Development Commission reviewed the application for incentives at its October 12 meeting and unanimously recommended approval of the incentive agreement.
“I’m glad to see this at this location,” councilwoman Gail Diggs said to councilmembers. “Well said,’ Mayor Rick Osbon added.
Council unanimously approved the first reading of the ordinance on Monday, October 25.