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Newberry accepts confidential application from ‘Project Hydro,’ sets public hearing on possible tax abatement
Summary
The commission acknowledged receipt of a confidential application from a prospective employer dubbed 'Project Hydro' and authorized staff to negotiate an ad valorem tax‑exemption package; a public hearing on a possible ordinance was set for Oct. 27.
City officials announced receipt of the first application for an economic‑development ad valorem tax exemption under the city’s ordinance and set a public hearing to consider any eventual abatement ordinance. Dallas Lee, assistant city manager and CFO, told the commission the application, known in staff materials as Project Hydro, is confidential under state law while the company is deciding among competing locations. Lee said Project Hydro has…
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