{"id":316267,"date":"2026-10-28T19:10:11","date_gmt":"2026-10-28T19:10:11","guid":{"rendered":"https:\/\/www.newsbeep.com\/us-pa\/316267\/"},"modified":"2026-10-28T19:10:11","modified_gmt":"2026-10-28T19:10:11","slug":"amendment-to-proposed-surf-park-passes-first-reading-at-myrtle-beach-city-council","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/us-pa\/316267\/","title":{"rendered":"Amendment to proposed surf park passes first reading at Myrtle Beach City Council"},"content":{"rendered":"

An amendment to the agreement involving a surf park in Myrtle Beach has been added to address revenue allocations.<\/p>\n

The proposed amendment passed first reading, adding nearly 27 acres associated with the Wavegarden Project and establishing the distribution of revenue generated by the project.<\/p>\n

PREVIOUSLY: Myrtle Beach City Council approves incentive agreement for $170M WaveGarden surf park<\/a><\/p>\n

Myrtle Beach City Council previously approved an Incentive Agreement providing up to $20 million in financial incentives for the development of the Wavegarden Project after identifying several different city funding sources.<\/p>\n

Under the proposed amendment, 70% of the revenues generated by the Wavegarden Project will be allocated toward reimbursement of eligible project costs or repayment of debt issued to finance the project. <\/p>\n

The remaining 30% will be distributed among the City of Myrtle Beach (9.66%), Horry County (9.67%), Horry County School District (9.67%), Georgetown County (0.5%), and Marion County (0.5%), according to the amendment.<\/p>\n

This would allow the city to be able to issue a special source revenue bond that’s tied directly to the fee if the project rather than property taxes.<\/p>\n

The amendment passed its first reading at Horry County Council as well.<\/p>\n

This would alleviate some of the obligation from the City of Myrtle Beach to pay the $20 million associated with the project.<\/p>\n

The multi-county business park agreement allows the city to take out a special source revenue bond.<\/p>\n

That bond does not go towards the city’s general obligation debt requirements. It is tied directly to the project and to the property itself.<\/p>\n

If approved, there is no general obligation requirement or fund balance from the city.<\/p>\n","protected":false},"excerpt":{"rendered":"An amendment to the agreement involving a surf park in Myrtle Beach has been added to address revenue…\n","protected":false},"author":2,"featured_media":316268,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[128,130,129],"class_list":["post-316267","post","type-post","status-publish","format-standard","has-post-thumbnail","category-reading","tag-reading-city","tag-reading-city-headlines","tag-reading-city-news"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us-pa\/wp-json\/wp\/v2\/posts\/316267","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us-pa\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us-pa\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-pa\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-pa\/wp-json\/wp\/v2\/comments?post=316267"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us-pa\/wp-json\/wp\/v2\/posts\/316267\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-pa\/wp-json\/wp\/v2\/media\/316268"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us-pa\/wp-json\/wp\/v2\/media?parent=316267"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-pa\/wp-json\/wp\/v2\/categories?post=316267"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-pa\/wp-json\/wp\/v2\/tags?post=316267"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}