MYRTLE BEACH, SC (WBTW)- Myrtle Beach City Council approved 13 million dollars worth of projects in the Market Common area, which is all apart of their master plan.
The market common is a tax increment financing district or TIFF which means the money comes from property taxes in that area, and that’s funding the list of projects.
TIFF bonds will pay for a third deck on the Deville Street parking garage and other parking improvements.
Some other projects include updating the Howard Avenue playground, adding public restrooms, and infrastructure to support development of a hotel. They also want to expand the law enforcement building on Mustang Avenue.
City officials said these projects could start as soon as early 2019. Once projects from 2006 are finished, the city will get 1.3 million dollars, Horry County will get $900,000, and Horry County Schools will get 2.1 million dollars from surplus funds.
“Send that surplus money back to the original jurisdictions so the school district, the city, and the county will get money they can spend as property tax money, because it is property tax money,” said Mark Kruea, spokesperson with the City of Myrtle Beach.