Sep
04

Developer Seeks Relief from Nearly $1.4M in Impact Fees

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September 4, 2008

By PRENTISS FINDLAY – The Post and Courier

Nearly $1.4 million in town impact fees are a “serious deterrent” to a $56 million multi-hotel project, its developer said Wednesday.

“It’s something that’s hard to swallow, quite frankly,” said Sam Fowler, founder and managing member of Fowler Hospitality LLC. “I would imagine it’s a serious deterrent to other developers.”

He addressed the Town Council Economic Development Committee, which indicated a willingness to consider giving him some relief, although it made no decision.

“If we are going to get our economy going again, we need to give people who are putting their capital at risk an incentive to do that. Maybe we need to take a little bit less upfront,” Councilman Joe Bustos said.

Town staff will study the issue and get back to the committee on alternatives to Fowler having to pay $1,375,262 up front to get a building permit for the project.

ARTICLE SHORTENED DUE TO LENGTH….

LINK TO ARTICLE HERE:
http://www.charleston.net/news/2008/sep/04/developer_seeks_relief_from_nearly_m_imp53007/

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