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Council consents to add parcel to Hunter Industrial Park; guest explains fee‑in‑lieu incentives and revenue split
Summary
Laurens City Council unanimously approved a resolution consenting to the inclusion of a parcel into Hunter Industrial Park; a guest presenter described how fee‑in‑lieu conversions allow inducements (including a 50% special source revenue credit for up to 15 years) and outlined the agreed 25/25/25/25 revenue distribution among city, special tax fund, county and school district.
Laurens City Council voted unanimously to consent to the inclusion of a parcel into the Hunter Industrial Park after a guest presenter explained how the multi‑county business‑park mechanism works and how revenues and incentives would be handled.
The Special Guest described the multi‑county business‑park tool as an economic development option the county uses to convert property inside an identified park from ad valorem taxation to a…
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