March 21 was a big day for affordable housing in South Carolina.
The state Senate’s Finance Committee moved forward a bill that would allow portions of tourism dollars raised in cities and counties to be used for affordable housing projects. This bill is a major win for affordable housing projects in our State.
The bill needs to be read across the Senate desk and will likely be up for second reading consideration next Tuesday, March 28th. If you would like to listen to Committee discussion, access the video archive here.
Some highlights:
· Shrinking pool of hospitality workers; Frank Rainwater, the state’s Chief Economist, gave a revenue update at the beginning of the meeting and specifically noted hospitality workers are in dire need, and affordable housing is needed for teachers, law enforcement, etc.
· Problem is that everywhere, especially in coastal areas, land is expensive.
· S.284 would add affordable workforce housing to the roster of allowable expenditures for local accommodations tax revenue.
