Fund could pool millions into Beaufort, Jasper Co. affordable housing efforts. What to know
A massive trust fund to support efforts to build affordable housing in Beaufort and Jasper counties could become a reality soon as the consultant designing the fund is almost done with its work.
Robert Merchant, Beaufort County community development department director, announced at a May 6 Bluffton town council affordable housing committee meeting that Asakura Robinson, the firm hired by the Southern Lowcountry Regional Board to draft a plan for the fund, is slated to finish its work in June. After that, SoLoCo — an advisory board that brings together representatives from municipalities in Beaufort and Jasper counties to work on quality-of-life issues — will decide whether to recommend the plan to municipalities.
SoLoCo chair and Hardeeville mayor Harry Williams says he expects the board to approve the plan.
The trust fund would be one of the largest-scale efforts to tackle the region’s lack of affordable housing in recent memory. Several municipalities, including Bluffton and Hilton Head, administer their own workforce housing programs, but this program is unique in that it would pool resources from multiple municipalities and donors.
“If you think how difficult that is,” Williams said, “this is really an amazing accomplishment for the region that could result in a tremendous benefit for the entire region. ... It affects everyone.”
Here’s what else to know about the trust fund:
1. The goal is to raise $7 million for affordable housing in Beaufort and Jasper counties over 10 years.
Each participating municipality would be expected to chip in a certain amount to the nonprofit trust fund. Interim Beaufort County Administrator Eric Greenway, who oversees SoLoCo’s regional housing trust fund subcommittee, said population size is one potential basis for determining how much seed money each town, city or county would contribute.
Grant funds, private donations and money from local foundations would help fill out the fund, Greenway said.
2. Participation in the housing trust fund would be optional.
Once the housing trust fund is created, municipalities must decide whether they want to participate.
Hilton Head town council members have been hesitant about buying into the initiative. The town recently launched its own program that offers incentives to developers to build workforce housing on the island. Although the town has not yet received any applications from developers, it’s launching a marketing campaign to recruit them.
Bluffton Mayor Lisa Sulka, Port Royal Mayor Joe DeVito and Hardeeville Mayor Williams all said their councils have indicated support for the housing trust fund.
“Anything that anyone can do to help housing in this region is a plus,” Sulka said.
Matt Garnes, Yemassee town clerk, said Mayor Colin Moore and council are passionate about participating in the trust fund.
“There’s a housing shortage everywhere, and Yemassee’s no different,” he said. “If we could have more jobs and affordable housing up here, it would be great.”
Hilton Head Mayor John McCann and City of Beaufort Mayor Stephen Murray did not return calls from The Island Packet on Tuesday about whether they expect their municipalities’ councils to participate in the trust fund.
This story was originally published May 13, 2021 at 4:25 AM.
