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Marlboro County meeting approves interest-credit agreement for 'Project Pinky Promise'
Summary
At a Marlboro County meeting, attendees unanimously approved Ordinance No. 852 on final reading to authorize an interest credit agreement with ACC East LLC and PV Development LLC tied to 'Project Pinky Promise,' and approved a related amendment replacing a FELO agreement with an SSRC infrastructure credit agreement.
At a Marlboro County meeting, attendees unanimously adopted Ordinance No. 852, authorizing an interest credit agreement among Marlboro County, ACC East LLC and PV Development LLC in connection with a development identified in the meeting as "Project Pinky Promise." Speaker 3 described the ordinance as providing for payment in lieu of taxes and authorizing certain infrastructure credits.
The meeting record shows the council first approved an amendment to the ordinance to replace a "FELO agreement" with an "SSRC infrastructure credit agreement," which was approved by show of hands with no discussion. A public hearing on Ordinance No. 852 was opened and closed without members of the public speaking. The administrator then asked for a motion for final reading; a motion and second were recorded and the ordinance passed unanimously. The meeting minutes describe the vote as unanimous but do not provide a numerical roll-call tally.
Speaker 3 summarized the ordinance during the public hearing as "the ordinance authorizing the execution and delivery of an interest credit agreement by and among Marlboro County, South Carolina, ACC East LLC and PV Development LLC" and later stated, "This is the final reading." Those statements were used to introduce and close discussion on the item in the meeting.
The ordinance, as described in the meeting, would allow the county to enter into an interest credit agreement and to authorize infrastructure credits tied to the project; the record refers to payment in lieu of taxes (PILOT) arrangements. The transcript does not include the final agreement text, dollar amounts, a precise timetable for implementation, or a roll-call vote. The meeting record also does not specify which county office will be responsible for executing or administering the agreement.
The meeting concluded with a motion to adjourn that carried. No follow-up steps, implementation dates, or departmental assignments were stated on the record.
