MYRTLE BEACH, S.C. (WBTW) — Horry County filed a lawsuit Thursday against the City of Myrtle Beach over the sale of campground properties, claiming the sale would financially hurt the county and the Myrtle Beach International Airport.
Myrtle Beach entered into an agreement in 2004 that the city would pay 75% of the lease revenue from Lakewood Camping Resort and Pirateland Family Camping Resort to the county to benefit Myrtle Beach International Airport. The city would get to keep the other 25%, according to the lawsuit.
The county says the property currently generates about $3.6 million in rent revenue annually.
Myrtle Beach informed Horry County on Nov. 6 that it intended to sell both properties for $60 million, according to the lawsuit.
Horry County believes the city will stop the rent stream that the county relies on for airport purposes and will keep all of the proceeds from the sale for the city, according to the lawsuit.
The county also claims the city is selling the property for less than fair market value, which would negatively impact the county’s revenue stream. The county seeks an injunction to stop the city from selling the property as proposed or to require that all proceeds from the sale are held in escrow until the claims are settled.
The county wants the property sold at fair market value and that proceeds go to the county for public airport purposes, according to the lawsuit.
In the lawsuit, the county claims it is contractually entitled to 75% of rent revenues and 100% of any revenue coming from the sale of the property. It also claims the sell of the property would take money away from the county and eliminate the airport’s expected revenue.
The county seeks money the city withheld from the county and legal costs, plus to stop the city from selling the properties or using money related to the properties until the dispute is settled.
Horry County is asking for a trial by jury.