MYRTLE BEACH, S.C. (WBTW) — The City of Myrtle Beach held a public hearing Thursday for the proposed Municipal Improvement District (MID).
The MID would increase taxes on roughly 3,600 commercial properties within the city’s downtown area between 11th Avenue South and 21st Avenue North, reaching as far west as Withers Swash.
Of the properties slated for tax increases, which would be $60 per $100,000 in assessed value. Only 9 property owners submitted written objections. Only one person spoke against the MID at Thursday’s hearing.
“I just wanted to request removal and exclusion from the MID,” said the hearing’s lone speaker.
The MID is modeled after a similar facelift project in Greenville, according to Myrtle Beach Downtown Alliance President and CEO Amy Barrett.
“We are really working to create a positioning for downtown where we really are the heart — not only of the City of Myrtle Beach, but the region,” Barrett said.
Two prominent downtown Myrtle Beach commercial property owners expressed concern to News13 that tax revenues wouldn’t be spent exclusively within the district. Barrett said guaranteed revenues would stay within the district.
“There’s no city-wide expenses that will come from this MID,” Barrett said. “It’ll all be spent on things to improve and benefit the confines of this geography.”
The MID is estimated to generate an additional $600,000 in tax revenue each of the next 10 years to pay for the ambassador program, more special events and revitalization.
“We need to see more housing development downtown, and that’ll take a lot of forms both in terms of maybe some rehabilitation projects of what’s already there, new construction, new infill housing,” Barrett said.
Barrett said the property owners are also investors in their community with the MID, which she said will mean the Myrtle Beach Downtown Alliance will need to be more communicative.
“We’ll do quarterly investment reports,” Barrett said. ‘How are these monies being spent? What are we looking at? What are our challenges?’ Really starting to create clearer communication, more transparency, and an opportunity for people to give and take to the downtown alliance as we kick off this big new era for downtown.”