Common Contracts
1 similar Fee in Lieu of Tax and Incentive Agreement contracts
Ord. #1852Fee in Lieu of Tax and Incentive Agreement • November 16th, 2015
AN ORDINANCE AUTHORIZING (1) THE EXECUTION AND DELIVERY OF A FEE IN LIEU OF TAX AND INCENTIVE AGREEMENT BY AND BETWEEN CHARLESTON COUNTY, SOUTH CAROLINA (THE “COUNTY”) AND DAIMLER VANS MANUFACTURING, LLC, PREVIOUSLY IDENTIFIED AS “PROJECT UNICORN,” ACTING FOR ITSELF, ONE OR MORE AFFILIATES OR OTHER PROJECT SPONSORS (THE “COMPANY”), WHEREBY THE COUNTY SHALL COVENANT TO ACCEPT NEGOTIATED FEES IN LIEU OF AD VALOREM TAXES IN CONNECTION WITH THE ACQUISITION, IMPROVEMENT AND EQUIPPING OF CERTAIN FACILITIES IN THE COUNTY (COLLECTIVELY, THE “PROJECT”); (2) THE GRANT OF SPECIAL SOURCE REVENUE CREDITS AND/OR THE ISSUANCE OF SPECIAL SOURCE REVENUE BONDS, IN EITHER CASE TO FUND CERTAIN INFRASTRUCTURE IMPROVEMENTS ASSOCIATED WITH THE PROJECT; (3) THE BENEFITS OF A MULTI-COUNTY INDUSTRIAL OR BUSINESS PARK TO BE MADE AVAILABLE TO THE PROJECT; (4) THE PURCHASE OF CERTAIN PROPERTY AND THE SUBSEQUENT SALE OF SAID PROPERTY TO THE COMPANY, OR THE ASSIGNMENT BY THE COUNTY TO THE COMPANY OF THE RIGHT TO PUR
