Common Contracts
26 similar Tax and Special Source Credit Agreement contracts
FEE IN LIEU OF TAX AND SPECIAL SOURCE CREDIT AGREEMENTTax and Special Source Credit Agreement • February 15th, 2024
FEE IN LIEU OF TAX AND SPECIAL SOURCE CREDIT AGREEMENTTax and Special Source Credit Agreement • December 1st, 2023 • South Carolina
As permitted under Section 12-44-55(B), Code of Laws of South Carolina 1976, as amended (the “Code”), the parties have agreed to waive the requirements of Section 12-44-55 of the Code. The following is a summary of the key provisions of this Fee in Lieu of Tax and Special Source Credit Agreement. This summary is inserted for convenience only and does not constitute a part of this Fee in Lieu of Tax and Special Source Credit Agreement or a summary compliant with Section 12-44-55 of the Code.
FEE IN LIEU OF TAX AND SPECIAL SOURCE CREDIT AGREEMENTTax and Special Source Credit Agreement • November 3rd, 2023
Company Name: Nissin Foods (U.S.A.) Company, Inc. Project Name: Project Slurp Projected Investment: $224,200,000 Projected Jobs: 322 Location (street): Bracken Road, Greenville, SC Tax Map No.: 0408000100404 1. FILOT Required Investment: $179,360,000 Required Jobs: 125 Investment Period: 8 years Ordinance No./Date: Ordinance No. ; November 7, 2023 Assessment Ratio: 4% Term (years): 40 years Fixed Millage: 0.3059 Net Present Value (if yes, discount rate): N/A Clawback information: See Section 4.03. If the Contract Minimum Investment Requirement is not met during the Enhanced Investment Period, the Fee Agreement will be retroactively terminated. 2. MCIP Included in an MCIP: Yes If yes, Name & Date: Agreement for Development of a Joint County Industrial and Business Park dated as of December 31, 2015 between Greenville County and Anderson County. 3. SSRC Total Amount: 30% per year for 15 years No. of Years 15 Yearly Increments: 30% Clawback information: See Section 4
FEE IN LIEU OF TAX AND SPECIAL SOURCE CREDIT AGREEMENTTax and Special Source Credit Agreement • November 2nd, 2023
FEE IN LIEU OF TAX AND SPECIAL SOURCE CREDIT AGREEMENTTax and Special Source Credit Agreement • October 10th, 2023
provision of Special Source Revenue Credits to reimburse the Company for payment of the cost of certain Infrastructure in connection with the Project, all as further described herein.
FEE IN LIEU OF TAX AND SPECIAL SOURCE CREDIT AGREEMENTTax and Special Source Credit Agreement • July 13th, 2023
FEE IN LIEU OF TAX AND SPECIAL SOURCE CREDIT AGREEMENTTax and Special Source Credit Agreement • February 1st, 2023
Development Property under the FILOT Act and provides for the payment of fees in lieu of taxes and the provision of Special Source Revenue Credits to reimburse the Company for payment of the cost of certain Infrastructure in connection with the Project, all as further described herein.
FEE IN LIEU OF TAX AND SPECIAL SOURCE CREDIT AGREEMENTTax and Special Source Credit Agreement • December 1st, 2022
FEE IN LIEU OF TAX AND SPECIAL SOURCE CREDIT AGREEMENTTax and Special Source Credit Agreement • December 1st, 2022
As permitted under Section 12-44-55(B), Code of Laws of South Carolina 1976, as amended (the “Code”), the parties have agreed to waive the requirements of Section 12-44-55 of the Code. The following is a summary of the key provisions of this Fee in Lieu of Tax and Special Source Credit Agreement. This summary is inserted for convenience only and does not constitute a part of this Fee in Lieu of Tax and Special Source Credit Agreement or a summary compliant with Section 12-44-55 of the Code.
FEE IN LIEU OF TAX AND SPECIAL SOURCE CREDIT AGREEMENTTax and Special Source Credit Agreement • October 21st, 2022
As permitted under Section 12-44-55(B), Code of Laws of South Carolina 1976, as amended (the “Code”), the parties have agreed to waive the requirements of Section 12-44-55 of the Code. The following is a summary of the key provisions of this Fee in Lieu of Tax and Special Source Credit Agreement. This summary is inserted for convenience only and does not constitute a part of this Fee in Lieu of Tax and Special Source Credit Agreement or a summary compliant with Section 12-44-55 of the Code.
FEE IN LIEU OF TAX AND SPECIAL SOURCE CREDIT AGREEMENTTax and Special Source Credit Agreement • September 9th, 2022 • South Carolina
As permitted under Section 12-44-55(B), Code of Laws of South Carolina 1976, as amended (the “Code”), the parties have agreed to waive the requirements of Section 12-44-55 of the Code. The following is a summary of the key provisions of this Fee in Lieu of Tax and Special Source Credit Agreement. This summary is inserted for convenience only and does not constitute a part of this Fee in Lieu of Tax and Special Source Credit Agreement or a summary compliant with Section 12-44-55 of the Code.
FEE IN LIEU OF TAX AND SPECIAL SOURCE CREDIT AGREEMENTTax and Special Source Credit Agreement • February 17th, 2022
As permitted under Section 12-44-55(B), Code of Laws of South Carolina 1976, as amended (the “Code”), the parties have agreed to waive the requirements of Section 12-44-55 of the Code. The following is a summary of the key provisions of this Fee in Lieu of Tax and Special Source Credit Agreement. This summary is inserted for convenience only and does not constitute a part of this Fee in Lieu of Tax and Special Source Credit Agreement or a summary compliant with Section 12-44-55 of the Code.
FEE IN LIEU OF TAX AND SPECIAL SOURCE CREDIT AGREEMENTTax and Special Source Credit Agreement • December 29th, 2021
As permitted under Section 12-44-55(B), Code of Laws of South Carolina 1976, as amended (the “Code”), the parties have agreed to waive the requirements of Section 12-44-55 of the Code. The following is a summary of the key provisions of this Fee in Lieu of Tax and Special Source Credit Agreement. This summary is inserted for convenience only and does not constitute a part of this Fee in Lieu of Tax and Special Source Credit Agreement or a summary compliant with Section 12-44-55 of the Code.
FEE IN LIEU OF TAX AND SPECIAL SOURCE CREDIT AGREEMENTTax and Special Source Credit Agreement • December 3rd, 2021
As permitted under Section 12-44-55(B), Code of Laws of South Carolina 1976, as amended (the “Code”), the parties have agreed to waive the requirements of Section 12-44-55 of the Code. The following is a summary of the key provisions of this Fee in Lieu of Tax and Special Source Credit Agreement. This summary is inserted for convenience only and does not constitute a part of this Fee in Lieu of Tax and Special Source Credit Agreement or a summary compliant with Section 12-44-55 of the Code.
FEE IN LIEU OF TAX AND SPECIAL SOURCE CREDIT AGREEMENTTax and Special Source Credit Agreement • November 23rd, 2021
As permitted under Section 12-44-55(B), Code of Laws of South Carolina 1976, as amended (the “Code”), the parties have agreed to waive the requirements of Section 12-44-55 of the Code. The following is a summary of the key provisions of this Fee in Lieu of Tax and Special Source Credit Agreement. This summary is inserted for convenience only and does not constitute a part of this Fee in Lieu of Tax and Special Source Credit Agreement or a summary compliant with Section 12-44-55 of the Code.
FEE IN LIEU OF TAX AND SPECIAL SOURCE CREDIT AGREEMENTTax and Special Source Credit Agreement • February 18th, 2021
As permitted under Section 12-44-55(B), Code of Laws of South Carolina 1976, as amended (the “Code”), the parties have agreed to waive the requirements of Section 12-44-55 of the Code. The following is a summary of the key provisions of this Fee in Lieu of Tax and Special Source Credit Agreement. This summary is inserted for convenience only and does not constitute a part of this Fee in Lieu of Tax and Special Source Credit Agreement or a summary compliant with Section 12-44-55 of the Code.
FEE IN LIEU OF TAX AND SPECIAL SOURCE CREDIT AGREEMENTTax and Special Source Credit Agreement • January 26th, 2021
Company Name: United Community Bank Project Name: Project Spruce Projected Investment: $30,000,000 (non-exempt) Projected Jobs: 225 Location (street): 200 East Camperdown Tax Map No.: 0069000300100 Greenville, SC 29601 1. FILOT Required Investment: $24,000,000 Investment Period: 5 years Ordinance No./Date: Assessment Ratio: 6% Term (years): 30 Fixed Millage: Yes (356) Net Present Value (ifyes, discount rate): N/A Clawback information: Failure to reach $24 million in non-exempt investment will terminate the Fee Agreement retroactively. 2. MCIP Included in an MCIP: Yes If yes, Name & Date: Added to Anderson-Greenville MCBP dated December 1, 2010 3. SSRC Total Amount: 35% No. of Years 10 Yearly Increments: N/A Clawback information: Failure to reach $24 million in non-exempt investment will terminate the Fee Agreement retroactively. 4. Other information
FEE IN LIEU OF TAX AND SPECIAL SOURCE CREDIT AGREEMENTTax and Special Source Credit Agreement • September 12th, 2019
As permitted under Section 12-44-55(B), Code of Laws of South Carolina 1976, as amended (the “Code”), the parties have agreed to waive the requirements of Section 12-44-55 of the Code. The following is a summary of the key provisions of this Fee in Lieu of Tax and Special Source Credit Agreement. This summary is inserted for convenience only and does not constitute a part of this Fee in Lieu of Tax and Special Source Credit Agreement or a summary compliant with Section 12-44-55 of the Code.
FEE IN LIEU OF TAX AND SPECIAL SOURCE CREDIT AGREEMENTTax and Special Source Credit Agreement • April 10th, 2019
Company Name: Span Packaging Services LLC Project Name: PROJECT PAK Projected Investment: $16,375,000 Projected Jobs: 72 Location (street): Fork Shoals Road, Greenville, SC Tax Map No.: P/O 0411000100106 1. FILOT Required Investment: $13,100,000 Investment Period: Five (5) years Ordinance No./Date: , 2019 Assessment Ratio: 6% Term (years): 30 years Fixed Millage: 334.4 Net Present Value (ifyes, discount rate): n/a Clawback information: If the Contract Minimum Investment is not met by the end of the Investment Period, the FILOT is retroactively terminated and the Company shall pay the difference between what normal ad valorem taxes would have been minus any fee payments actually madeduring that period. 2. MCIP Included in an MCIP: To be included If yes, Name & Date: Agreement for the Development of a Joint County Industrial and Business Park(2010 Park) dated as of December 1, 2010, as amended, between Greenville County and Anderson County 3. SSRC Total Amount:
FEE IN LIEU OF TAX AND SPECIAL SOURCE CREDIT AGREEMENTTax and Special Source Credit Agreement • January 29th, 2019
Company Name: Project Name: PROJECT PAK Projected Investment: $16,375,000 Projected Jobs: 72 Location (street): Fork Shoals Road, Greenville, SC Tax Map No.: P/O 0411000100106 1. FILOT Required Investment: $13,100,000 Investment Period: Five (5) years Ordinance No./Date: , 2019 Assessment Ratio: 6% Term (years): 30 years Fixed Millage: 334.4 Net Present Value (ifyes, discount rate): n/a Clawback information: If the Contract Minimum Investment is not met by the end of the Investment Period, the FILOT is retroactively terminated and the Company shall pay the difference between what normal ad valorem taxes would have been minus any fee payments actually madeduring that period. 2. MCIP Included in an MCIP: To be included If yes, Name & Date: Agreement for the Development of a Joint County Industrial and Business Park(2010 Park) dated as of December 1, 2010, as amended, between Greenville County and Anderson County 3. SSRC Total Amount: 20% of each FILOT payment
FEE IN LIEU OF TAX AND SPECIAL SOURCE CREDIT AGREEMENTTax and Special Source Credit Agreement • November 2nd, 2017
Company Name: VETRORESINA LLC Project Name: PROJECT VERON Projected Investment: $7,500,000 Projected Jobs: 17 Location (street): 6 Idaho StreetGreenville, SC 29605 Tax Map No.: Portion of 0400020100100 1. FILOT Required Investment: $6,000,000 Investment Period: 5 years Ordinance No./Date: Assessment Ratio: 6% Term (years): 30 Fixed Millage: 314.9 Net Present Value (if yes, discount rate): Clawback information: If the company does not invest at least $6,000,000 in new real and personal property within the 5 year investment window, then this Fee in Lieu of Tax and Special Source Credit Agreement will be terminated retroactively, and the company will be required to reimburse Greenville County the difference in the FILOT versus normal taxes plus interest. 2. MCIP Included in an MCIP: Yes If yes, Name & Date: Greenville-Laurens Multi-County Park, pursuant to the “Agreement for Development forJoint County Industrial Park” between Greenville and Laurens County, dated a
FEE IN LIEU OF TAX AND SPECIAL SOURCE CREDIT AGREEMENTTax and Special Source Credit Agreement • December 1st, 2016
Company Name: Gower Corporation Project Name: Siberian Projected Investment: $5,000,000 Projected Jobs: 50 Location (street): 1400 Old Stage Road, Mauldin, SC 29662 Tax Map No.: 0292.00-01-012 1. FILOT Required Investment: $5,000,000 Investment Period: 5 years Ordinance No./Date: Assessment Ratio: 6% Term (years): 20 years (but automatically becomes 30 years if Company invests$7,500,000 duringStandard Investment Period) Fixed Millage: 308.6 Net Present Value (ifyes, discount rate): N/A Clawback information: 2. MCIP Included in an MCIP: Yes If yes, Name & Date: Agreement for the Development of a Joint County Industrial and Business Park dated as of December 1, 2010, as amended, between the County and Anderson County, SouthCarolina 3. SSRC A springing Special Source Credit if Company hits investment target Total Amount: $10,000,000 during the Standard Investment Period No. of Years 7 years (but automatically becomes 10 years if Company invests at least $15,000
FEE IN LIEU OF TAX AND SPECIAL SOURCE CREDIT AGREEMENTTax and Special Source Credit Agreement • November 9th, 2016
Company Name: [(Operating Company)] [(Landlord)] Project Name: Project Locate Projected Investment: $45,000,000 Projected Jobs: 450 Location (street): Tax Map No.: 1. FILOT Required Investment: $2,500,000 Investment Period: 5 years Ordinance No./Date: Assessment Ratio: 6% Term (years): 30 Fixed Millage: .2964 Net Present Value (if yes, discount rate): No. Clawback information: See Section 4.03 of this Agreement. 2. MCIP Included in an MCIP: To be included in the 2010 Anderson/Greenville MCIP If yes, Name & Date: 3. SSRC Total Amount: 40% of FILOT Payments No. of Years 10 years. The SSRC will begin once the company invests more than $36 million innew real and personal property Yearly Increments: Clawback information: Subject to $22,000,000 maintenance requirement. See Section 4.02(d) of this Agreement. 4. Other information
FEE IN LIEU OF TAX AND SPECIAL SOURCE CREDIT AGREEMENTTax and Special Source Credit Agreement • October 27th, 2016
Company Name: Project Name: Siberian Projected Investment: $5,000,000 Projected Jobs: 50 Location (street): Tax Map No.: 1. FILOT Required Investment: $5,000,000 Investment Period: 5 years Ordinance No./Date: Assessment Ratio: 6% Term (years): 20 years (but automatically becomes 30 years if Company invests$7,500,000 duringStandard Investment Period) Fixed Millage: 308.6 Net Present Value (ifyes, discount rate): N/A Clawback information: 2. MCIP Included in an MCIP: Yes If yes, Name & Date: Agreement for the Development of a Joint County Industrial and Business Park dated asof December 1, 2010, as amended, between the County and Anderson County, South Carolina 3. SSRC A springing Special Source Credit if Company hits investment target Total Amount: $10,000,000 during the Standard Investment Period No. of Years 7 years (but automatically becomes 10 years if Company invests at least $15,000,000during the Standard Investment Period) Yearly Increments: 10%
FEE IN LIEU OF TAX AND SPECIAL SOURCE CREDIT AGREEMENTTax and Special Source Credit Agreement • October 25th, 2016
As permitted under Section 12-44-55(B), Code of Laws of South Carolina 1976, as amended (the “Code”), the parties have agreed to waive the requirements of Section 12-44-55 of the Code. The following is a summary of the key provisions of this Fee in Lieu of Tax and Special Source Credit Agreement. This summary is inserted for convenience only and does not constitute a part of this Fee in Lieu of Tax and Special Source Credit Agreement or a summary compliant with Section 12-44-55 of the Code.
FEE IN LIEU OF TAX AND SPECIAL SOURCE CREDIT AGREEMENTTax and Special Source Credit Agreement • September 29th, 2016
Company Name: Project Breeze Project Name: Project Breeze Projected Investment: $78,421,177 Projected Jobs: 30 Location (street): 803 North Maple StreetSimpsonville, SC 29681 [COMPANY TO CONFIRM] Tax Map No.: 03-03-000-100-201[COMPANY TO CONFIRM] 1. FILOT Required Investment: $2,500,000 Investment Period: See § 1.01 Ordinance No./Date: [INSERT] Assessment Ratio: 6% Term (years): 30 Fixed Millage: 290.8 Net Present Value (ifyes, discount rate): no Clawback information: See § 4.03 2. MCIP Included in an MCIP: Yes If yes, Name & Date: Greenville-Anderson, October 6, 1998 3. SSRC Total Amount: 25% - 35% depending on the amount of investment during Investment Period. Minimuminvestment of $20,000,000 required. No. of Years 15 years Yearly Increments: Clawback information: See § 4.02(d) 4. Other information Property allowed pursuant to § 12-44-110(3) not included in Project. See definition of “Project” under Section 1.01.
