Council grants FILOT to ‘Project Peak’

by | September 10, 2014 6:17 am

Last Updated: September 10, 2014 at 9:30 am

breaking-newsClarendon County Council and the Clarendon County Development Board can’t say right yet exactly what “Project Peak” is, but they can say the project could be a huge industry boon for the county.

“We passed first reading on Monday night for a fee-in-lieu-of-taxes (FILOT), and we will have second reading in October,” said Clarendon County Council Chairman Dwight Stewart. “We think it’s a good fit for the county, and once we can reveal it, we believe it will be some exciting news for Clarendon County.”

Stewart said the exact amount of the tax incentive was not disclosed. A FILOT allows a company to pay a fee in lieu of annual property taxes, providing an incentive for industries to come to our county.

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