CONWAY, S.C. (WMBF) – A major renovation could be on the way to the city of Conway, and on Monday night, city officials came one step closer to making it a reality.

But they say they need to fund it and propose establishing a “tax increment financing district.”

“This is just a financing mechanism. That’s all. It is providing a funding mechanism for future plans,” said City Manager Adam Emrick.

Emrick explained that no matter how much property taxes increase, that difference will be factored into a downtown and riverfront development plan, funding everything from new recreational activities and river access improvements to new trails, greenways and connectors.

“It’s not a tax increase, it’s not a fee, it’s just a natural increase in property values. We captured the increase and reinvested it in the district,” Emrick said.

Although councilors approved a first reading Monday night, not everyone is sure about the plan.

Last weekHorry County Schools, which owns part of the property the city wants to develop, said it wants more conversations about the TIF before approving it.

A couple of residents also expressed concerns, focusing on the potential displacement of more than three dozen families living at Lee Haven Apartments.

“Redevelopment is a good opportunity for the city, in terms of bringing different types of housing and businesses to Conway. I wouldn’t want the redevelopment to go where it would leave 32 people, families, with no place to stay,” one resident said during public comment.

City officials say the redevelopment would take place over several years and wouldn’t happen without a plan for the people affected. They also say TIF money can be used to provide more affordable housing options.

But Dr. Kenneth Floyd, former president of the Conway NAACP branch, says he’s still skeptical.

“If they’re going to build new affordable housing, are they going to give these people the opportunity to come back at the same price, or are they planning to raise the prices to the point where we can’t afford them?” Floyd asked. “We put them in a position to have our best interests at heart, so they need to consult with us about what we want. “It’s not about them, it’s about what the citizens want.”

City council members also expressed interest in communicating more with the public so they understand the plan, acknowledging that there is some misinformation.

At the moment, we do not know when this plan will be back on the table for a second and final reading.

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