Sep
07

Okatie Village Developers Agree To Pay County $10.7 Million

By
September 5, 2008

By Michael Welles Shapiro – The Island Packet

Developers of a 1,252-home community on S.C. 170 have agreed to pay $10.7 million in fees to Beaufort County.

On Thursday, the County Council’s Land Management Committee voted 6-1 to recommend the full council approve the development agreements for Okatie Village.

Basically, a development agreement is a concession from both sides. In this case, the two developers — Hilton Head Island’s Jim Robinson and LaCasa Real Estate Development — wanted to build more homes and commercial property than were allowed under county rules.

To do that, they agreed to give the county $6.7 million for public school construction and an additional $4 million to be used by the county for other costs.

Committee chairman Skeet Von Harten said at least $1.85 million of the $4 million will go toward road improvements along S.C. 170, since Okatie Village residents would contribute to the increased traffic and deterioration of the highway.

ARTICLE SHORTENED DUE TO LENGTH….

LINK TO ARTICLE HERE:

http://www.islandpacket.com/news/local/story/601392.html
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