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Charleston County approves incentive agreements and clears bond finding for park district
Summary
Charleston County Council approved a special source revenue credit agreement on third reading, and approved fee-in-lieu incentive arrangements and a finding that the Park and Recreation District may issue up to $70 million in general obligation bonds; staff presented projected tax revenues, fiscal benefit ratios and job estimates during the discussion.
Charleston County Council on third reading approved an ordinance authorizing a special source revenue credit agreement with Mainstream Pine Products LLC and, in separate votes and motions, approved fee-in-lieu incentive measures and a finding that the Charleston County Park and Recreation District may issue up to $70,000,000 in general obligation bonds.
The council passed the Mainstream Pine Products ordinance on third reading by a roll-call tally of 7 ayes, 1 nay and 1 absent. Councilmembers recorded ayes from Darby, Honeycutt, Moody, Pryor, Sass (listed), Worman and Boykin; Koprowski voted nay and Middleton was absent. The ordinance was described in the public notice as authorizing execution and delivery of a…
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