Tiff erupts over TIF between 4 county council members and City of Cayce
The City of Cayce has moved to establish Tax Increment Financing (TIF) to fund improvements to its Knox-Abbott corridor and other parts of the city.
Tuesday, four members, of the nine-member Lexington County Council issued a press release in opposition to the Cayce TIF. Cayce Mayor Elise PArtin responed to the council memebrs, and so did Lexignton County Council Chairman Todd Cullum.
The statement of the four county council members read:
Lexington County Council members Erin Long Bergeson, Ned Tolar, Phil Yarborough and Darrell Hudson have released the following statement opposing a proposed extension of the City of Cayce’s riverfront development TIF.
“Cayce’s redevelopment efforts are commendable, but Lexington County taxpayers have already contributed nearly $2 million toward those efforts.
“While we don’t oppose an updated TIF for the City of Cayce, extending the current TIF at 1998 levels would be unfair to taxpayers in other parts of the county. And given the many pressing needs throughout the county, it simply wouldn’t make sense.
“We strongly oppose extending the current TIF, at 20-year-old tax values. The costs would far exceed the benefits.
“This is about protecting the taxpayers, about good government and about sound fiscal management. Above all, it’s about doing the right thing for Lexington County as a whole.”
The statement by those council members prompted the following response from Lexington County Council man Todd Cullum and a statement from Cayce Mayor Elise Partin. The statement are included below.
“From the Desk of Lexington County Council Chairman Todd Cullum:
Yesterday, a few members of the Lexington County Council made a public statement about a matter that is still being reviewed, researched and discussed. The City of Cayce has engaged the County Council to extend the existing Tax Incremental Financing (TIF) agreement.
The TIF agreement that was established in 1998 has been extremely successful for both the City and County, alike. The County contribution to the TIF was $1.8 million over the life of the TIF.
As a result of the contribution from the county and other taxing entities, the development and redevelopment in the TIF district has exceeded $20 million dollars in taxable value. The indirect new development adjacent to the TIF district that has been created is in excess of $30 million in taxable value. I believe that everyone can agree that the TIF district has built an economic foundation for the County and City to realize growth in the tax base for years to come.
I look forward to continuing to work closely with the City of Cayce. It is imperative to foster and strengthen our relationships with all of our municipalities as we continue to pursue our local government goal of making Lexington County the best place to live, work and play in our region.”
Statement from Cayce Mayor Elise Partin:
“When fewer than half of the members of any elected body prematurely send out a statement to the media, with incorrect information, about an issue that is still being negotiated; we call that political scare tactics. The people of Lexington County know the economic development value of the Riverwalk and other projects we have undertaken. Our Cayce Council members have a strong record of protecting the taxpayers and using sound fiscal management. We will continue to negotiate this issue with Lexington County Council in a transparent and professional manner.”