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County considering FILOT for company's expansion
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Kershaw County Council will consider a fee in lieu of taxes, or FILOT, agreement during its meeting this afternoon with an unnamed company being represented by TEP Real Estate LLC. According to a copy of the agreement, TEP is representing an existing company in Kershaw County wishing to “purchase additional land, building, machinery and equipment and to renovate, upgrade and increase the square footage of the company’s existing facilities within the county.” The company’s total investment in the project is estimated to approximately $2.5 million over a two-year period. Council will consider a resolution giving preliminary approval for the FILOT incentive, as well as first reading of an ordinance authorizing and executing the agreement.