Commentary: SC Legislature needs to reauthorize community development tax credits

Reprinted from The Post & Courier

In uncertain times, people look for stability — something they can count on. For one North Charleston neighborhood, that sense of certainty came in the form of eight new affordable homes.

The Golden Dream Townhomes, completed in 2023, brought much-needed housing to the historic Liberty Hill community, one of the Charleston area’s fastest gentrifying neighborhoods. The homes were built on family owned land at Lecque and Lester streets by the descendants of William Lecque, who helped found Liberty Hill just years after the Emancipation Proclamation.

This project didn’t just help build workforce-accessible houses in a high-cost housing market. It honored the legacy of black landownership, preserved generational wealth and protected residents from displacement. Thanks to durable, energy-efficient construction and Energy Star appliances, it also reduced long-term costs for the families who now call it home.

Behind the scenes, a powerful but often-overlooked tool made this project possible: South Carolina community development tax credits. With support from this state-sponsored program, the local community development corporation Metanoia was able to attract private investment to bring the project to life and ensure the townhomes remained financially within reach for working families. In a world full of economic uncertainty, this was a rare moment of clarity: public policy creating real, lasting stability for South Carolinians.