PICKENS — The School District of Pickens County has reached a settlement with the City of Clemson and Pickens County regarding the Tax Increment Financing lawsuit.
The suit, which was filed May 15, 2012, disputed the use and distribution of tax revenues among the three parties from a special tax district in the City of Clemson.
The settlement follows the court order filed April 30, 2014, and ends the lawsuit without an appeal. The agreement sets forth the procedure among the city, county and school district to distribute property tax collections exceeding the TIF bond debt service.
“I’m glad to have this issue resolved and that we can put the lawsuit behind us,” said Dr. Danny Merck, SDPC superintendent.
The City of Clemson will pay the school district $1,024,020 by July 31, 2014. That sum represents the district’s portion of tax revenues collected in the redevelopment area during the 2011-2012 and 2012-2013 fiscal years.
The city additionally will pay the district about $500,000 for 2013-2014, also by July 31, 2014.
The City of Clemson also will pay Pickens County $356,030.96 by July 31, 2014. The sum represents the county’s portion of tax revenues collected in the redevelopment area during the 2011-2012 and 2012-2013 fiscal years.
The school district will also receive a portion of revenues collected in the redevelopment area until the end of the TIF plan in 2017. Overall, the district expects to receive about $500,000 per year over the course of six fiscal years.
The school district has agreed to give the city a three-foot easement along the sidewalk in front of Clemson Elementary School so the city can convert the sidewalk into a pedestrian and bike path.
“The City of Clemson is a good neighbor,” Merck said, “and I look forward to continuing to work together with them in serving the Clemson community. I’m also excited about how the financial impact of the settlement can help meet the needs of our students.”