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Project Kerrigan expansion advances on second reading; county outlines incentive terms
Summary
Sumter County granted second reading Jan. 28 to Ordinance #25-1016 enabling fee-in-lieu and other tax incentives for Project Kerrigan, an existing manufacturer pledging $45 million in local investment; a public hearing is scheduled for the third reading on Feb. 11, 2025.
Sumter County Council voted Jan. 28 to grant second reading to Ordinance #25-1016, which would authorize a fee-in-lieu of ad valorem taxes (FILOT) and special source revenue credits to support Project Kerrigan, described by county counsel as an expansion by an existing manufacturer that has pledged $45 million in local investment.
County Attorney Johnathan Bryan outlined the principal terms discussed in the ordinance: a 6% assessment ratio with one mil to be fixed for five years and a special source revenue credit of 55% for the first five years followed by 24% for the subsequent four years. Bryan said the public hearing for third reading will take place Feb. 11, 2025.
Vice Chairman James R. Byrd moved to grant second reading; Councilman Artie Baker seconded and the motion carried unanimously. The ordinance remains pending final approval after the scheduled public hearing and third reading.
