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Council agrees to add Casto-related entities as affiliates to 2015 fee agreement
Summary
Council voted by voice to add Casto Southeast CCM Realty Investments LLC and Columbus Realty Investments Ltd. as sponsor affiliates to the fee-in-lieu and tax agreement dated June 2, 2015 with Casto Oconee, LLC, and authorized the interim county administrator to execute the amended agreement; the transcript records the terms discussed but provides no roll-call vote tally.
During its Dec. 19 special meeting, the Oconee County Council considered and moved to accept a recommendation to add two Casto-related entities as sponsor affiliates under an existing fee-in-lieu and tax agreement.
The chair introduced an action item to add Casto Southeast CCM Realty Investments LLC and Columbus Realty Investments Ltd. to the fee agreement dated 06/02/2015 between Oconee County and Casto Oconee, LLC. David Root explained the change reflects the fact that Casto has created multiple LLCs tied to the project; these spin-off entities seek to receive the standard benefits under the county's fee agreement. Root said the entities would receive the same provisions, including a 6% assessment ratio and a fixed millage rate at 215. He also noted the project's special-source reimbursement for infrastructure has already been paid back.
A motion and second were recorded to accept Mr. Root's recommendation and to authorize the interim county administrator to sign the amended agreement; the transcript records a voice affirmative to the chair's "all in favor" call but does not include a roll-call tally. The transcript does not provide additional contract language or the amended agreement text.
Next steps: execution of the amended fee agreement by the interim county administrator, as authorized by council.
