Myrtle Beach adopts plan to allocate $20 million for downtown projects. What to know

The Myrtle Beach City Council agreed Thursday to allocate around $20 million to development in the city’s downtown, which officials said they plan to use for projects like a city square.

Mark Kruea, a city spokesman, told WBTW-TV the redevelopment will be funded from revenue from a tax increment finance district that covers the downtown area, including Ocean Boulevard.

“The tax increment finance district sets a zero year and any growth in the property tax after that zero year can be used for a list of projects for the downtown area,” he said. “So the growth that is occurring will help pay for the bonds, and then those bonds will help create more opportunities for additional property tax growth....”

Officials with the city’s Downtown Development Office said other projects will include a children’s museum and a performing arts theater, the TV station reported.

“It’s taken a lot of time,” Lauren Clever with the development office told WBTW. “There is a lot of backscene planning, conversations, approvals — things that have to occur to even put a shovel in the ground. The idea is to keep those projects rolling....”

At the moment, the development office is finishing up renovating buildings on Ninth Avenue North, she added.

This story was originally published December 4, 2021 at 1:39 PM.