Development Incentives

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Hartsville Opportunity Zone

Hartsville Opportunity Zone map Opportunity Zones are a new community development program established by Congress as a part of the Tax Cuts and Jobs Act of 2017. They are designed to encourage long-term private investments in low-income communities. This program provides a federal tax incentive for taxpayers who reinvest unrealized capital gains into "Opportunity Funds," which are specialized vehicles dedicated to investing in low-income areas called "Opportunity Zones."

The Opportunity Zones program offers investors the following incentives for putting their capital to work in low-income communities:

Investors can roll existing capital gains into Opportunity Funds with no up-front tax bill.
A 5-year holding increases the rolled-over capital gains basis by 10%.
A 7-year holding increases the rolled-over capital gain investment basis 5% for a total of 15%.
Investors can defer their original tax bill until December 31, 2026, at the latest, or until they sell their Opportunity Fund investments, if earlier.
Opportunity Fund investments held in the fund for at least 10 years are not taxed for capital gains.

Interactive version of the SC Opportunity Zone Map

Bailey Bill

The South Carolina Bailey Bill (SC Code of Laws §4-9-195 and §5-21-140) authorizes local governments to offer a special property tax assessment for rehabilitated historic buildings. See the documents below for more details.

Strategic Investment Zone Incentive Program

The Strategic Investment Zone (SIZ) incentive program has been developed to provide decent, safe, and affordable housing to persons of low to moderate income in areas where new housing contraction opportunities have been overlooked. These areas are identified in the Strategic Investment Zone map. Accommodated types of housing are single family detached, single family attached, mixed use, duplexes, condominiums, and townhouses.

Sign and Facade Grants

Main Street Hartsville provides funding for sign and facade improvements for their partner businesses in the Downtown Hartsville B1 zoning district. Visit the Main Street Hartsville website to learn more.

Hartsville's Economic Development Incentive Program

This program allows that the City of Hartsville may make offers increasing Hartsville's attractiveness to private developers interested in investing in developing new commercial construction and the rehabilitation of existing buildings located downtown and the corridors of Fourth, Fifth, and Sixth streets.

Under Hartsville's Economic Development Incentive Program, the City of Hartsville may make offers, such as providing some reimbursements of fees and taxes, which increase Hartsville's attractiveness to private developers. The program is available to developers interested in investing in new commercial construction as well as in renovating existing buildings in Hartsville's historic downtown as well as the corridors of Fourth, Fifth and Sixth streets (see map below). Projects eligible for consideration include new businesses which will improve commercial activity in these areas, attract residents and visitors and increase property values.

The private developer must be proposing at least $1 million in improvements to a property upon the project's completion. The project must also be consistent with the Hartsville 2020 Comprehensive Plan and the City of Hartsville Master Plan. The intended use of the development must be for at least one of these business purposes:

Retail uses
Tourism-related business or activities
Cultural arts activities and associated businesses
Corporate headquarters
Research and development
High-technology growth business
Other uses as determined by City Council as consistent with the goals of the program, Comprehensive Plan and Master Plan.

State of South Carolina programs may be considered by City Council to be combined with any package of incentives, or to provide a stand-alone set of incentives for in-city projects located out of the eligible development area. These state programs include property tax credits, as authorized by the S.C. Abandoned Building Act, the S.C. Textiles Communities Revitalization Act, the S.C. Retail Facilities Revitalization Act, or the S.C. real property tax credit for the installation of a fire sprinkler system (see applications below).

When granted by the City, incentives may take the form of reimbursements and refunds of fees and taxes which have been paid to the City. Incentives may include:

Up to 100 percent of applicable tap fees collected by the City
Up to 50 percent of building permit fees collected by the City
Up to 50 percent of business license fees collected by the City for as many as 5 years
Up to 50 percent of local hospitality taxes collected by the City for as many as five years, so long as funds received through the incentive are spent only for purposes that are related to tourism
Up to 50 percent of the local accommodations taxes collected by the City for as many as five years, so long as funds received through the incentive are spent only for purposes that are related to tourism
Other incentives that the Council grants at its discretion on a case-by-case basis

Proposed sets of incentives for a development must be submitted by application to the City Manager.

Applications and Additional Information

Ordinance 4150 – authorizing and establishing the Economic Development Incentive Program and containing all information on potential incentives and requirements.
Proposal for Economic Development Incentives application.
Downtown (B-1) district – eligible downtown properties under the program.
Development area – properties fronting Fourth, Fifth and Sixth streets.
Abandoned Buildings Act application for eligibility and credit against real property taxes.
Textile Communities Revitalization Act application for eligibility and credit against real property taxes.

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