At a recent meeting, Spartanburg City Council unanimously approved the transfer of eleven city-owned properties to the Northside Development Group (NDG) for development of mixed-income housing in the Northside neighborhood.
In line with the Northside Transformation Plan, the properties will be developed in partnership with Homes of Hope, a state nonprofit community development organization.
The property transfers will allow NDG and Homes of Hope to construct 22 homes for homeownership and 21 rental units across multiple sites in the neighborhood. Eight of the rental units will be reserved for families between 50-60 percent of area median income, between around $37,000-$47,000 for a family of four. The single-family homes constructed for homeownership will have sales prices of $220,000-$240,000 for three-bedroom homes. Potential homebuyers will have the opportunity for downpayment assistance through programs offered by the City and NDG.
Total development cost is expected to be around $9.2 million, and the properties transferred were:
- 375 Arch St.
- 455 Brawley St.
- 465 Brawley St.
- 779 Leonard St.
- 438 N Forest St.
- 333 Preston St.
- 668 Saxon Ave.
- 670 Saxon Ave.
- 672 Saxon Ave.
- 674 Saxon Ave.
- 254 Franklin St.
In other business, Spartanburg City Council unanimously approved final reading for the Fiscal Year 2024-2025 budget. The annual budget shows projected growth in the City’s General Fund of around five percent, from just over $51 million approved last fiscal year to around $53.5 million for the upcoming year. No tax or fee increases were included in the budget.
Leading the way are the City’s two largest sources of revenue, with property tax revenue projected to increase from around $19.5 million in last year’s budget to $20.6 million this year and business license showing a projected increase to more than $8.7 million compared with last year’s $8.1 million. Hospitality Tax revenue is also expected to grow in the coming year, with the budget projecting over $7.2 million in revenue next fiscal year, ahead of last year’s $7 million. Hospitality Tax is a two percent tax on prepared food and beverages sold within the city.
Taken together, the revenue figures indicate a growing local economy, bolstered by the accelerated growth seen in the downtown area and throughout the city over the past several years.
While City revenues continue to grow, inflationary pressures and the demands of retaining and attracting a skilled workforce mean that much of that growth is needed to continue to provide a high level of local government service to Spartanburg’s residents. In his presentation to Council, City Manager Chris Story said that fully two-thirds of every dollar allocated in the City’s budget goes towards personnel expenses, the highest percentage in memory. Aside from a three percent cost-of-living adjustment for City employees, the budget holds the line on much of the City’s expenditure categories, with no changes to service levels and no major capital projects planned. To download a copy of the upcoming fiscal year budget, follow this link.
For more from the recent Spartanburg City Council meeting, follow this link to view the full video.
Written by the City of Spartanburg.