The City of Rock Hill is seeking to borrow $225 million to make improvements benefiting property in a proposed Southside TIF. Below is a map detailing the parcels designated for the proposed TIF. The parcels (in pink) are outside City limits. In fact, 59% of the proposed TIF area is in the County, not the City. Therefore mass annexation of these parcels would have to happen for this to be a valid TIF proposal.
York County was informed of this proposal a few weeks ago (Please see letter below). The County has not been included or involved in the development of the plans, and therefore has no more information to share other than what was provided by the City in its notice. There is no publicly listed development plan or list of projects with associated costs, and the proposed TIF allows for tax revenue generated in these areas to be used anywhere in the City if the City determines it would benefit the redevelopment area.
A TIF is a revitalization effort where the goal is for property values to increase as new development happens in an area that sees little investment on its own. The governmental entities participating agree to forgo the incremental tax revenue for a set period of time with an expectation of a return on the investment. A TIF generates revenue from the boost in property values from improvements to properties inside the TIF district. South Carolina law says a TIF district must be designated as a blighted, conservation, or agricultural area, and be inside the boundaries of the city that’s proposing it. In this case, the City of Rock Hill is specifically requesting the County and the Rock Hill Schools forgo any incremental increase in property taxes in the proposed TIF area for the next 30 years (up to $225M). Because most of the unincorporated property in the proposed TIF is undeveloped real estate near the interstate, the bulk of any property taxes for these parcels would likely go to repayment of debt under this proposal.
The County will update this webpage with any new information. The City’s proposal requires the County (and School District) to respond to the proposal by October 11th. A failure to respond in writing with a rejection is deemed to be a complete acceptance of all the terms proposed. Due to the urgency of this matter, and because the County has limited information, you are encouraged to reach out to City officials with any questions, and to attend the City’s public hearing on October 11th at 6pm at Rock Hill City Council chambers at 155 Johnston Street, Rock Hill, SC to voice your questions, comments and/or concerns. You can also provide comments to [email protected] or contact your County Representative.
Letter to York County from the City of Rock Hill
Southside Redevelopment Plan
Map of Proposed TIF