Charleston Reporter

Mayor William Cogswell announced today that a diverse coalition of advocacy groups have collectively signed a letter endorsing the establishment of a Tax Increment Financing (TIF) District to fund public infrastructure and greenspace at Union Pier. The groups, including Historic Charleston Foundation, the Preservation Society, Coastal Conservation League, Historic Ansonborough Neighborhood Association, and the Charleston Metro Chamber of Commerce, have expressed their support for the Mayor’s initiative.

The proposed TIF district at Union Pier aims to ensure that public funds will not be used to subsidize private development. Instead, it is intended to provide for public access to the water, ample green space for all to enjoy, resilience measures, affordable housing, and public infrastructure.

The coalition delivered a joint letter to members of Charleston City Council, Charleston County Council, and the Charleston County School Board. In this letter, they emphasized the critical importance of utilizing the TIF mechanism to realize the shared vision of Union Pier. They highlighted their desire for resilient water and sewer infrastructure, parks and open space, sidewalks and other public amenities that enhance livability, affordability and public access to the historic waterfront.

“Union Pier has the opportunity to provide world-renowned public amenities and be a place that not only residents of the Lowcountry but all of South Carolina can be proud of," said Mayor Cogswell. "Setting up a TIF District is an important first step to achieving this goal as it will be critical in attracting state and federal resources."

Mayor Cogswell added that he views this as a once-in-a-lifetime opportunity. He expressed pride in having garnered support from such diverse and forward-thinking groups. He further stated that past successes with TIF districts such as King Street have shown their potential in enhancing not just cities but entire regions.

Since taking office, Mayor Cogswell has been clear with both the South Carolina Ports Authority and prospective buyers about what residents want at Union Pier. His vision includes public access to the water, lower density and height, significant green space, resiliency measures, a meaningful component of affordability, a local developer and the removal of the cruise terminal.