WINNSBORO — Fairfield County Council has approved the first reading an ordinance to charge a fee in lieu of ad valorem taxes for a project code named “Project Leprechaun.”
County Council unanimously passed Ordinance 634, which authorizes the execution and delivery of a fee in lieu of ad valorem taxes and incentive agreement to provide a fee in lieu of ad valorem taxes incentive, infrastructure credits and other incentives to for the code named “Project Leprechaun.”
Although county officials could not mention specifics pertaining to the project, they did say it would be “great for Fairfield County.”
The ordinance also mentions property that is included in Fairfield County’s portion of the I-77 corridor.
The industrial park is not a physical site, but is an agreement between Fairfield and Richland to conduct business in several various parks located in the corridor. A multi-county industrial park agreement allows companies to apply for state tax incentives according to Fairfield County Economic Development Director Tiffany Harrison.
Ordinances 632 and 633 also passed without opposition to authorize an amendment to the master agreement governing the I-77 Corridor Regional Industrial Park between Fairfield and Richland County to expand the boundaries to include University Residences LLC and PTI Plastic and Rubber Inc.
Through the process of bringing economic development into Fairfield County, county administration has been agreeing to a fee in lieu of taxes with certain companies and various businesses.
that fee in lieu of taxes is pre-determined by contracts as negotiated between county staff and the company/business owners.
According to Fairfield County Administrator Milton Pope, the fees keep the company/business owners out of the tax frame they would pay.
Pope noted that when V.C Summer’s two new nuclear reactors come online, those would be charged a fee in lieu of taxes as well.
“There has been a lot of discussion and misinformation about that,” Pope said.
The new reactors will be charged a fee in lieu of ad valorem taxes as well.
Ad valorem taxes added money to the county’s general fund for funding for the public school system.