Aiken City Council granted first-reading approval on June 22 to legislation that would bump the hospitality tax from 1% to 2%. Funds will help cover construction costs for a parking deck on Newberry Street. Money will also go toward improvements at parks and recreation sites.
Final consideration won’t arrive until August. City Manager Stuart Bedenbaugh said officials must first explain why the bump is necessary and how they plan to spend the money. Mayor Teddy Milner scheduled a public hearing for 5:30 p.m. on July 27.
Bedenbaugh said the parking structure carries an estimated price tag of $9.5 million. Aiken agreed to build the deck as part of a development agreement with Oliver Hospitality, which is purchasing the Hotel Aiken building and nearby properties. Annual financing for the parking deck could reach $950,000…