North Augusta’s Financial Turnaround: Crowne Plaza Parking Revenue Success
Hey there, North Augusta! If you love keeping up with the latest happenings in our vibrant city, then you’re going to want to hear this fantastic news. The past few months have seen a remarkable turnaround in our local finances, particularly regarding parking revenues from the Crowne Plaza hotel and its associated parking garage at Riverside Village.
A Long-Awaited Breakthrough
After what felt like an eternity, last month’s sale of the Crowne Plaza has finally allowed the city to start collecting parking revenues that had been stuck in a tricky spot for about three years. That’s right! The problem has been a headache, but on November 26, everything started looking bright again thanks to a $42 million sale to the Miami-based Flacks Group. Almost immediately, the city’s bank account kicked into gear, and by November 30, the financial cloud had cleared, bringing in a whopping $195,300 in just two days!
This remarkable change means North Augusta is now far better off than it has been in recent times. Just to put it all into perspective, the last time the city saw significant numbers from Riverside Village was way back in 2019 when the Crowne Plaza opened and the city raked in $128,500.
A Bumpy Ride Preceding the Sale
It hasn’t been smooth sailing since. The subsequent pandemic years were a struggle, with parking revenues dipping down to $40,380 in 2020 and $99,700 in 2021. The struggle intensified early in 2022 and by year’s end, North Augusta found itself $34,500 in the red!
What was causing all this trouble, you ask? Well, here’s the scoop: the parking garage was owned by the city but managed by the previous hotel owner. The developer, Ackerman Greenstone, acted like a middleman, collecting funds from visitors but sometimes didn’t send back all that money to the city. It was a frustrating game of tag with many ups and downs due to inconsistent revenue collection.
Fresh Starts and New Directions
With the sale of the hotel now completed, the city is moving ahead with renewed optimism. Finance Director Lynda Williamson has mentioned that they are actively working with the new owners to streamline the payment process. This will ensure that North Augusta gets its fair share without any more hiccups in the future. The incoming plan includes an agreement that will provide a clear revenue line from fees paid by residents living in the 170 apartments currently under construction next to the garage.
Celebrating New Heights in Local Revenue
The excitement doesn’t just stop at parking revenues. North Augusta is also basking in the glow of increasing financial figures tied to tourism. Good news, folks! It’s estimated that by year’s end, the local hospitality tax (H-Tax) revenue will hit an impressive $2.7 million, thanks to the influx of new restaurants and the opening of various venues over the past year. This translates to a nice 5 percent year-over-year increase.
In addition, the local accommodations tax (A-Tax) is looking even brighter with collections exceeding $456,000, up from last year’s $339,000. That’s an awesome 34 percent increase! Some of this surge can be attributed to Hilton’s Tru Hotel opening late last year, and many displaced families and contractors arriving for storm cleanup efforts also helped boost the numbers.
What Lies Ahead
With a thriving local economy and sustainable plans aimed at boosting North Augusta, it’s clear the city is gearing up for a promising future. The recent approval of nearly $200,000 for tourism initiatives also reflects North Augusta’s commitment to enhancing our community and supporting local businesses.
So, whether you’re a local or just passing through, you’ll definitely want to keep an eye on North Augusta’s blossoming scene. We’ve turned a corner, and it looks like great things are coming our way!
