Tax breaks extended to market-rate developments in Columbia

COLUMBIA, SC (WACH) - The City of Columbia is now offering tax credit benefits for private developers.

The city previously announced tax credits for private students housing properties. They are now allowing for market-rate developments to apply for such tax breaks too.

In order to qualify, market rate developments must have: a minimum $40 million investment, $5 million per usable acre, a min tax bill of $750,000, parking arrangements must use no public funds.

Also, both those looking for credits for student and market-rate developments must apply by the end of this year.

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