Saturday, May 18, 2013

Latest local news, weather and high school sports from the Midlands

SC bill aimed at revitalizing vacant buildings
Posted: 02.27.2013 at 12:17 PM
Read more:  Local, Politics, News, Columbia, South Carolina, Bill, Lawmakers, Turn Abandoned Buildings into Commercial Space, Senate Floor, SC Senate, Advanced, Reduce State Revenue, Million, Fiscal Year, Buildings, Space, Thousands of Square Feet, Renovation, Vacated Buildings, Investments, Community, Passing the House, SC House, Legislators, Approved, Textile Mills

save
send
print
0
A bill that lawmakers hope will help turn abandoned buildings across South Carolina into bustling commercial space has advanced to the Senate floor.   / Kara Durrette
Photo
COLUMBIA, S.C. (AP) -- A bill that lawmakers hope will help turn abandoned buildings across South Carolina into bustling commercial space has advanced to the Senate floor. 
 
The measure advanced Tuesday would give state income tax credits for renovating buildings vacated at least five years. The qualifying investment would range from $75,000 to $250,000 depending on the community's size. 
 
State economic advisers say the bill would reduce state revenue by $1 million next fiscal year, then $3.8 million annually the next four years. There is an estimated 500,000 square feet of abandoned building space statewide.
 
The bill died in the Senate last year after passing the House.
 
Legislators approved a similar law several years ago directed at renovating old textile mills. Supporters say it helped create vibrant city centers in Greenville and Columbia.
save
send
print
 |
 | 
more  
Comments are the sole responsibility of the person posting them; they are not reflective of the views or opinions of Barrington Broadcasting, WACH, its directors or employees. If you believe a comment violates the Barrington Terms of Use, please flag it above.
Popular Stories
Thumbnail
Magazine lists Sumter as one of the best small cities in US
Thursday, May 16, 2013  |  4 comments
Thumbnail
Medical Examiner's testimony challenges Brett Parker's self-defense claim
Katie McKee  |  Yesterday at 2:15 PM  |  1 comment
Thumbnail
South Carolina's Candice Glover crowned American Idol
WACH Fox News Center  |  Yesterday at 3:55 PM  |  2 comments
Follow Midlands Connect
Get news and weather notifications on your phone by downloading the iPhone or Android app below
Sign up to get alerts and updates for breaking news, severe weather, and deals:
submit
ADVERTISEMENT
Special Features
MoneyWACH
MoneyWACH
Financial tips & tricks from Palmetto Citizens Federal Credit Union
Mission Midlands
Mission Midlands
A program from the Oliver Gospel Mission
MOJO Gallery
MOJO Gallery
View and share your pictures from around the Midlands
ADVERTISEMENT
About Us News Sports Weather Neighborhood Marketplace
     
TV Station Profiles & Public Inspection Files forWACH
© Copyright 2007-2013 Barrington Broadcasting Group, LLCTerms of Use
 
Privacy Policy