Council gives initial approval to Watts Mill developers

In a unanimous vote, the Laurens County Council has paved the way for the commencement of a significant residential development at the erstwhile Watts Mill site, located just north of Laurens off Highway 221. The initiative, code-named “Project Onward,” is a $50-million development project by Greenville-based developers, Clear Mountain Properties. Covering the former industrial site, the project plans to erect 178 townhomes, aimed to be rented out at a range from $1,200 to $1,800 monthly.

Special Source Revenue Credit

Present at the meeting was Clear Mountain’s director of development, Stormie Ellenburg, who detailed the company’s plans and requests. The company is seeking a Special Source Revenue Credit (SSRC), which essentially serves to give them a tax break of about 65% over the duration of a 15-year agreement. Council members gave initial approval, but the exact incentives are yet to be determined, a decision which has attracted attention and some criticism.

The Case for SSRC

Ellenburg emphasized the necessity of the SSRC, given that such massive investments incur heavy costs on the front end of the project. Moreover, under current legislation, developers and rental property owners are taxed at 6% in Laurence County, higher than the 4% tax charged to homeowners. The SSRC would help offset that disparity, and such a tactic has worked for several developers in neighboring areas, according to Council Chairman Brown Patterson and Vice-Chairman Jeff Carroll.

Industrial park framework

For the SSRC or a similar “fee-in-lieu-of-taxes” (FILOT) agreement to be applied, the county is legally obliged to create an “industrial park”. This does not require the construction of a physical industrial park but rather, an administrative procedure that establishes a framework for incentive agreements. Concerning the SSRC revenues collected, Patterson wishes for the funds to benefit Laurens County School District 55, as they stand to experience a surge in enrolment with the influx of new families

Fusion of Residential and Commercial Space

Project Onward is poised to bring structural enhancements to the Watts Mill site, including commercial amenities like a coffee shop or a public gathering area. The iconic Watts Mill smokestack will be preserved, and the developers plan to refurbish the boiler room as a community area for the residents. The council is waiting for further input from District 55 leaders, with two more readings and a public hearing required for final project approval.

Anticipated Positive Impact on the Community

The project aims to provide a new gateway into Laurens County and the City of Laurens, a development hailed by council members as a positive growth opportunity for much-needed rental housing. Councilman David Tribble expressed his strong support for the project, saying, “If this were in my district, I’d be all over it. It’s a good opportunity for us to turn that circumstance around.”