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Sumter County approves FILOT tax agreement for Runnymede Solar
Summary
On Oct. 11 Sumter County Council adopted Ordinance #21-965 authorizing a fee-in-lieu-of-ad valorem (FILOT) agreement with Runnymede Solar, LLC, including a Special Source Revenue Credit that results in a net FILOT payment of $2,000 per megawatt (AC) for up to 30 years per phase.
Sumter County Council voted unanimously on Oct. 11 to adopt Ordinance #21-965, authorizing a Fee-In-Lieu-Of-Ad Valorem Taxes (FILOT) agreement with Runnymede Solar, LLC (formerly called Project Honey).
County Attorney Johnathan Bryan presented the ordinance on third reading and described the core fiscal incentive: the agreement provides a Special Source Revenue Credit (SSRC) that yields a Net FILOT payment equal…
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