Myrtle Beach City Council Announces Ordinance Allowing $20 Million in Bonds for Redevelopment in Downtown

Yesterday, the Myrtle Beach city council announced an ordinance that would allow up to $20 million in bonds to be issued to finance redevelopment in downtown Myrtle Beach. The city would issue the bonds in the Oceanfront Redevelopment District which is designated as the properties between the ocean and King’s Highway from 21st Avenue North to 14th Avenue South. The bonds will be used to promote growth and investment in the area and increase property values and tax revenue. That revenue would then be used to invest in future projects like a performing arts theater, new library, children’s museum and renovations to the existing Chapin Memorial Library among other things.