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Council advances $4.5 million special-source revenue credit for unnamed company after questions about details
Summary
Council approved a special source revenue credit (SSRC) agreement not to exceed $4.5 million for an unnamed company; staff said the deal would retain about 160 jobs, create about 50 new jobs, and generate an estimated $8 million in new tax revenue over five years, while some council members pressed for the company name and fuller details before voting.
Charleston County staff asked the Finance Committee to approve a special source revenue credit (SSRC) agreement not to exceed $4.5 million for a company whose name was not presented at the meeting.
A staff representative said the project builds on a fee-in-lieu (FILO) agreement the county approved in 2023 and that, if the SSRC is approved, the county expects roughly $29 million in FILO-related revenue over 17 years and an…
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