Ledger Staff Writer

The Gaffney Board of Public Works’ long-promised public golf course project has been delayed because of the utility’s inability to secure financing.

That might soon change.

The utility could qualify for a $2 million federal tax credit by designating its Lake Whelchel property for public use only.

The utility would then sell the tax credit and use the proceeds toward the construction of the golf course, BPW General Manager Donnie Hardin said.

The tax credit is determined from a formula based on the value of the property if it remained public compared to its commercial value.

The proposal is expected to be discussed at the Board’s long-range planning workshop this weekend.

“It means we could borrow less money and make the project more feasible,” Hardin said.

The proposal would bypass the United States Department of Agriculture. For some time now, the utility has been seeking a loan guarantee from the USDA.

Plans have called for the construction of an 18-hole public golf course adjacent to Lake Whelchel, which is owned by the utility.

If the commissioners elect not to proceed with their golf course plans, Hardin pointed out the tax credit proceeds could be used in other ways.