Council clears second readings for Nova Molecular option changes and Project Peanut land and tax deal

Sumter County council on voice votes advanced ordinances tied to two related economic-development matters: winding down a legacy option agreement with NOVA Molecular and approving second reading on measures that clear the way for a new industrial prospect, identified in the record as 'Project Peanut.'

Speaker 7 explained the NOVA Molecular item would terminate an earlier option and right of first refusal and replace it with a new three-year option priced at $15,000 per acre that would then convert to a two-year right of first refusal. The parcel structure described included a Parcel A near NOVA Molecular of about 4.5 acres and Parcel B of about 20 acres. Speaker 7 said those terms are intended to 'wipe that off and start with a clean slate' before pursuing the new option arrangement.

On Project Peanut, Speaker 7 summarized a fee-in-lieu-of-tax agreement and purchase-and-sale terms. The presenter said the project expects to invest approximately $38,000,000 and create 47 jobs over five years. The fee-in-lieu arrangement presented an assessment ratio referenced as 6% and an initial millage-related figure noted as 0.3526; the presenter discussed multi-year infrastructure credit percentages but the transcript wording on the timing and exact percentages was unclear in places. The purchase agreement would cover roughly 47 acres at $28,500 per acre (approximately $1,339,500), and proceeds were to be deposited into the county infrastructure fund via an ordinance amendment.

Council approved second readings by voice vote for the Nova Molecular ordinance (25-10-39) and for the Project Peanut-related ordinance (25-10-36). Speaker 7 said third reading and a public hearing of the Project Peanut sale would be scheduled in January.