MYRTLE BEACH, S.C. (WBTW) — A proposed Municipal Improvement District in Myrtle Beach passed a first reading Tuesday.

This district installation will add a 1% tax for businesses between 21st Avenue North and 12th Avenue South.

This district would be a part of the Myrtle Beach Downtown Alliance organization. It will create a steady source of income for the organization for the next 10 years. In return, the tax-payers’ money would be going towards rejuvenating downtown Myrtle Beach.

40% of the money would pay for the Gold Cap Ambassadors program that keeps the area clean and safe. The next largest cost would be for managing events and parking. The third most costly part of this proposal focuses on special projects like building improvements for tenants and small businesses.

The CEO and President of Myrtle Beach Downtown Alliance said these are all important aspects that create a downtown.

“They really are kind of fundamental to knowing what we have in our district and to be able to talk about it with some authority and really knowing what it is we are working with,” Amy Barrett said.

If passed, this would be the third downtown improvement district in South Carolina. The next steps for this proposal is for it to go through a second reading, a community listening session, then a final approval.