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Port Royal Sales Tax Projects List Part II

Port Royal Sales Tax Projects List Part II

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List of additional projects presented to the Beaufort County Sales Tax Committee by the town of Port Royal
List of additional projects presented to the Beaufort County Sales Tax Committee by the town of Port Royal

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Published by: Island Packet and Beaufort Gazette on May 19, 2014
Copyright:Traditional Copyright: All rights reserved


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Town of Port Royal Capital Projects

Commission Presentation
May 19, 2014

Potential Purchase Options
• County buys the property and maintains ownership –
County has reservations regarding this option.
• Town takes ownership of the property after approved
referendum and purchase – viable, but prefer a more
focused effort to properly dispose of the property.
• Create specific redevelopment authority – establish a 3
to 5 member authority(makeup to be determined) that
will ensure proper marketing of the property, address
pricing issues, and handle potential changes in the
development agreement or planned unit development
to accommodate potential purchases, with
concurrence from the Port Royal Town Council.
How to Handle Proceeds
• Any funds generated by the sale will need to
be reinvested.
• Options:
– Installation/construction of public infrastructure
on the property.
– Address capital projects on the list that might not
have been funded due to declining sales tax
collections, overruns on other projects, or
decreases in other revenue sources.

Request for Use of Proceeds
• The Town is requesting that the proceeds from
the sale of parcels be used to fund Phase I of
the Tax Increment Financing project
list(attached), as well as the complete spine
road, $6,000,000
• If the property is purchased privately, the
Town is requesting that the Phase I TIF
projects and the spine road be funded.

Request for Consideration
• If the Sales Tax Commission chooses not to
include fund Phase I TIF projects and the spine
road, the Town is requesting the following
projects be considered:

Request for Consideration
• Add Sidewalks (Various Areas of Town) (New) - Install new
sidewalks in various areas in Port Royal to provide
pedestrian interconnectivity. Estimated Cost: $250,000.00
• Resurfacing of Town Owned Roads (Renovation/Repair) -
The Town owns and maintains all roadways south of Ribaut
Road. Over the last three years the Town has resurfaced
five street segments. The Town needs to resurface many
roadways as a large number have exceeded their useful life
given the type of material used to construct each particular
road. The current cost to resurface one block of roadway is
approximately $20,000. Currently the Town owns
approximately 7.5 miles of roadway that need resurfacing.
Estimated Cost: $4,000,000.00

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