Documents obtained by Grand Strand Daily raise some questions about recent media reports regarding the planned Institute for Principled Development at Coastal Carolina University.
According to media reports, the institute will be housed at the E. Craig Wall Sr. College of Business Administration at CCU. Barbara Ritter PhD, Dean of the College of Business Administration, said the institute will be an impartial and credible source for those seeking answers to some of the complex planning and development issues facing the region and it will provide unbiased, data-driven analysis to Horry County’s growth.
Robert Salvino Jr. PhD, professor of economics and director of the Grant Center for Real Estate and Economics at CCU, will reportedly oversee the institute.
The institute is funded almost exclusively by developers, builders, realtors, engineers and associated development industry firms. According to a document obtained by Grand Strand Daily, as of September 2019, the institute had funding commitments of $152,666 for 2019 and $409,500 in three year pledges. The largest contributors are Burroughs and Chapin, DDC Engineers, Clay and Matthew Brittain, Ocean Sands Resort, Palmetto Corporation, Ralph and Tradd Teal and Waccamaw Land and Timber each pledging $30,000 over three years.
According to the media reports, the first step is to hire an executive director for the institute and next to craft an advisory board to address questions surrounding development. The reports state the institute is set to launch in spring 2020.
However, Grand Strand Daily obtained a document that names a five member Board of Advisors elected July 31, 2019 for the “Institute for Responsible Development in the Wall College of Business Administration at Coastal Carolina University.” The name of the institute was reported as Institute for Responsible Development in news articles last week. “Responsible” was changed to “Principled” in a press release from CCU over the weekend.
Members of the Board of Advisors listed in the above named document are Mark Lazarus, Chairman, Drew Flynn and Tradd Teal, Co-Vice Chairmen, Clay Brittain, Secretary and Horry County Council member Gary Loftus, Ad Hoc Member.