Myrtle Beach passes second reading of Municipal Improvement District
Myrtle Beach is establishing a Municipal Improvement District (MID) for the downtown area. City Council gave second reading to the MID’s creation during Tuesday’s meeting. The money generated by the MID will pay for increased services and development, including: events and marketing, the ambassador program, special projects and planning and research. Other South Carolina cities, including Columbia, have established successful MIDs for downtown revitalization. Myrtle Beach’s new district stretches from 21st Avenue North to 11th Avenue South and includes Broadway Street and the Arts & Innovation District. Commercial property owners will pay an extra one percent of the assessed value of their property, which is equivalent to 10 mills. A commercial property valued at $1 million will pay an extra $600 per year. The MID fee does not apply to owner-occupied homes.