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Council OKs first reading for multi-county park agreement with Kershaw County
Summary
Lancaster County approved first reading of a proposed multi-county industrial park (MCIP) agreement with Kershaw County that would place property in a FILO payment arrangement; economic development staff said the partner share (1%) could generate recurring revenue for Lancaster with no capital outlay.
Lancaster County Council approved first reading of ordinance 20 26 20 53, a proposed multi-county industrial park (MCIP) agreement with Kershaw County that would allow the counties to jointly host an industrial park and replace ad valorem taxes with a negotiated fee-in-lieu (FILO) payment.
Economic development staff explained counties are authorized to form MCIPs under the state constitution and state code; in such agreements the host county typically retains most revenue and transfers a small partner percentage to the adjoining county. Staff said Lancaster would be the partner county and that a sufficiently large project in Kershaw could produce six-figure annual FILO payments for Lancaster without any capital outlay.
Council members asked questions about the location and details; staff said the finer exhibits were not yet available but recommended approval of first reading. Council approved the item by roll call.
