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Charleston County approves 20-year fee-in-lieu deal for Alpha Sheet Metal Works
Summary
County Council voted 7-2 to authorize a 20-year fee-in-lieu of tax agreement with Alpha Sheet Metal Works Inc. and 95 17 Realty LLC after staff said the arrangement would secure $3.7 million in private investment and create 14 jobs; critics raised concerns about small-business parity and fixed millage terms.
CHARLESTON, S.C. — Charleston County Council on May 20 approved an ordinance authorizing a 20-year fee-in-lieu of tax (FILOT) agreement with Alpha Sheet Metal Works Incorporated and 95 17 Realty LLC, a deal council members and staff said will support a $3.7 million private investment and the creation of 14 new jobs.
Council members said the agreement will set a 6% assessment ratio and fix the millage at 314.9 mills for 20 years. Economic development staff told council the company plans $3,000,000 in construction real property and $700,000 in business personal property, with an average…
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