Incentives

Bailey Bill

The Bailey Bill is in place to encourage the redevelopment of Historic Commercial Buildings in the City of Walterboro’s Central Business District.

This piece of legislation allows a current owner or purchaser of an eligible property to improve the structure without increasing taxable value.  If an owner invests at least 50% of the taxable value in the renovation/restoration of an eligible property, they can “freeze” the taxable property value for 20 years.  There are specific steps required in order to initiate this program and they must be undertaken before work begins. If you are interested in possibly taking advantage of this program, call Ryan McLeod at 843-782-1004 or email rmcleod@walterborosc.org.

The ”Omnibus” Economic Development Incentive Ordinance

The City of Walterboro wants to encourage development in our Historic Downtown, as well as on its Gateway Commercial Corridors.

In 2020, City Council finalized and adopted a comprehensive ordinance to do this. 

The ordinance established 6 corridors.  The Districts are: 

Historic Downtown District

• All properties located within the Central Business District (CBD) are eligible.

Jefferies Blvd. District

• All properties fronting North or South Jefferies Boulevard

Charleston Gateway District

• All properties fronting Hampton St. from Strickland St. to City Limits

Summerville Gateway District

• All properties fronting Wichman St. from Savage St. to City Limits

Beaufort Gateway District

• All properties fronting Hendersonville Highway from Sniders Hwy to City Limits. As well as Commercial Properties fronting Greenpond Highway from South Jefferies Blvd. to City Limits.

To find out about investment thresholds and the eligible business types, click here or call Ryan McLeod at 843-782-1004 or email rmcleod@walterborosc.org