Title
An Ordinance authorizing an amendment to General Bond Ordinance No. 2009-45 of the City of Rock Hill, South Carolina; and other matters relating thereto.
Body
City Council is asked to approve an amendment to the 2009 General Bond Ordinance that authorized TIF bonds for the River Walk development. The purpose of the amendment is to allow the City to offer property tax incentives, as are offered elsewhere in the City, at South Cross Corporate Center, at Waterford Business Park and the new River Falls Business Park, all located within the Red River TIF District. Without this amendment, the City Council would not be able to offer discretionary property tax incentives in these parks. In addition, this ordinance will permit City Council to fund pay-as-you-go capital improvements using Red River TIF funds.