FLORENCE, S.C. — The Florence County Council continues to work to develop two industrial parks.
The county council unanimously approved the second reading of an ordinance authorizing a fee-in-lieu-of-tax agreement with Santee Electric Cooperative for electric infrastructure in an industrial park to be located near Scranton.
It also unanimously approved infrastructure improvements in the Britton Bostick Winonna site on U.S. 76/301 near its intersection with East Old Marion Highway.
County Administrator K.G. "Rusty" Smith Jr. said the agreement applied strictly to electrical infrastructure in the park located across from the K.J.'s warehouse on West Lee Flowers Road just north of the town. He said the agreement calls for a millage of 359.6 mills and special source revenue credits of 50% in years 1-10 of the agreement and 25% in years 11-30.
Smith added that the land currently generates property taxes of around $470 per year.
"They'll be investing millions and millions in electrical infrastructure and the county would be free to negotiate any fee in lieu of or any SSRCs [special source revenue credits] with any prospective industries based upon the prospective investment and job profile," Smith said.
He said the agreement would also fall under a metaphorical industrial park agreement with Williamsburg County.
The first phase of improvements to the Britton Bostick Winonna site include the development of roadway on the property, water and sewer improvements to connect the site to the existing system nearby, and a monument sign and landscaping.
The county is also working with South Carolina Department of Transportation regarding roadway improvements including a potential deceleration lane.
The funding for these improvements will be provided by a economic development bond issue earlier this year along with a $500,000 grant from the South Carolina Department of Commerce and a $200,000 grant from Duke Energy.
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