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Lexington County council committee approves inducement resolution and first reading for ‘Project Aqua’ fee-in-lieu agreement
Summary
The county’s economic development committee approved an inducement resolution (R25‑01) and held a first reading of Ordinance 25‑01 to enable a fee‑in‑lieu‑of‑taxes agreement, special source revenue credits and the sale of Lot 9 at Saks Scott Industrial Park for a project identified as “Project Aqua.”
Lexington County’s Economic Development Committee approved an inducement resolution and advanced an ordinance on first reading on Jan. 14 to allow a private project, identified in committee as “Project Aqua,” to pursue a fee‑in‑lieu‑of‑taxes agreement and related incentives.
The committee voted to approve Resolution R25‑01, described in committee as an inducement resolution to meet the requirements of South Carolina law so that investment expenditures by Project Aqua can qualify for a fee‑in‑lieu arrangement. The committee also held the first reading by title of Ordinance 25‑01, authorizing a fee‑in‑lieu‑of‑tax agreement, potential special source revenue credits, and the sale of county‑owned property identified in committee as Lot 9 at Saks Scott Industrial Park.
The actions matter because fee‑in‑lieu arrangements and special source revenue credits change how a new project’s investment is taxed and can affect local tax revenues and land use. Committee leaders said the steps shown in committee were procedural items needed to allow the county to proceed with negotiations and final approvals.
Garrett Dragano of the county’s economic development staff was identified as the staff lead on the item in committee. During the session, Chairlady Kerig moved approval of the inducement resolution and the ordinance first reading; another committee member seconded both motions. Both measures passed on voice votes in committee with no opposition recorded.
The resolution was cited in committee as necessary to meet the requirements of South Carolina Code referenced by staff and the chair. The ordinance was read by title only for its first reading; committee members did not take final ordinance adoption at this meeting and placed no additional substantive conditions on staff in committee.
Committee minutes show the item will proceed through the county’s legislative process before a final, binding agreement is adopted. The county did not provide the full text of the proposed fee‑in‑lieu agreement, the dollar value of any proposed tax incentive, or a final purchase price for Lot 9 during the committee discussion.
What happened next: the economic development committee adjourned following the actions and indicated related matters would return to a later meeting when needed.
