Common Contracts
33 similar Credit Agreement contracts
FEE IN LIEU OF TAX AND SPECIAL SOURCE CREDIT AGREEMENTCredit Agreement • February 1st, 2024
As permitted under Section 12-44-55(B), Code of Laws of South Carolina 1976, as amended (the “Code”), the parties have agreed to waive the requirements of Section 12-44-55 of the Code. The following is a summary of the key provisions of this Fee in Lieu of Tax and Special Source Credit Agreement. This summary is inserted for convenience only and does not constitute a part of this Fee in Lieu of Tax and Special Source Credit Agreement or a summary compliant with Section 12-44-55 of the Code.
SPECIAL SOURCE CREDIT AGREEMENTCredit Agreement • December 1st, 2023
As permitted under Section 12-44-55(B), Code of Laws of South Carolina 1976, as amended (the “Code”), the parties have agreed to waive the requirements of Section 12-44-55 of the Code. The following is a summary of the key provisions of this Fee in Lieu of Tax and Special Source Credit Agreement. This summary is inserted for convenience only and does not constitute a part of this Fee in Lieu of Tax and Special Source Credit Agreement or a summary compliant with Section 12-44-55 of the Code.
FEE IN LIEU OF TAX AND SPECIAL SOURCE CREDIT AGREEMENTCredit Agreement • December 1st, 2023
As permitted under Section 12-44-55(B), Code of Laws of South Carolina 1976, as amended (the “Code”), the parties have agreed to waive the requirements of Section 12-44-55 of the Code. The following is a summary of the key provisions of this Fee in Lieu of Tax and Special Source Credit Agreement. This summary is inserted for convenience only and does not constitute a part of this Fee in Lieu of Tax and Special Source Credit Agreement or a summary compliant with Section 12-44-55 of the Code.
FEE IN LIEU OF TAX AND SPECIAL SOURCE CREDIT AGREEMENTCredit Agreement • October 27th, 2023 • South Carolina
As permitted under Section 12-44-55(B), Code of Laws of South Carolina 1976, as amended (the “Code”), the parties have agreed to waive the requirements of Section 12-44-55 of the Code. The following is a summary of the key provisions of this Fee in Lieu of Tax and Special Source Credit Agreement. This summary is inserted for convenience only and does not constitute a part of this Fee in Lieu of Tax and Special Source Credit Agreement or a summary compliant with Section 12-44-55 of the Code.
SPECIAL SOURCE CREDIT AGREEMENTCredit Agreement • October 10th, 2023
As permitted under Section 12-44-55(B), Code of Laws of South Carolina 1976, as amended (the “Code”), the parties have agreed to waive the requirements of Section 12-44-55 of the Code. The following is a summary of the key provisions of this Fee in Lieu of Tax and Special Source Credit Agreement. This summary is inserted for convenience only and does not constitute a part of this Fee in Lieu of Tax and Special Source Credit Agreement or a summary compliant with Section 12-44-55 of the Code.
FEE IN LIEU OF TAX AND SPECIAL SOURCE CREDIT AGREEMENTCredit Agreement • September 27th, 2023
Company Name: [to come] Project Name: Project Slurp Projected Investment: $224,200,000 Projected Jobs: 322 Location (street): [to come] Tax Map No.: [to come] 1. FILOT Required Investment: $179,360,000 Required Jobs: 125 Investment Period: 8 years Ordinance No./Date: [to come] Assessment Ratio: 4% Term (years): 40 years Fixed Millage: 0.3059 Net Present Value (if yes, discount rate): N/A Clawback information: See Section 4.03. If the Contract Minimum Investment Requirement is not met during the Enhanced Investment Period, the Fee Agreement will be retroactively terminated. 2. MCIP Included in an MCIP: Yes If yes, Name & Date: Agreement for Development of a Joint County Industrial and Business Park dated as of December 31, 2015. 3. SSRC Total Amount: 30% per year for 15 years No. of Years 15 Yearly Increments: 30% Clawback information: See Section 4.02. If the Contract Minimum Investment Requirement is not met during the Enhanced Investment Period, the Fee Agreemen
FEE IN LIEU OF TAX AND SPECIAL SOURCE CREDIT AGREEMENTCredit Agreement • April 28th, 2023
FEE IN LIEU OF TAX AND SPECIAL SOURCE CREDIT AGREEMENTCredit Agreement • March 31st, 2023
FEE IN LIEU OF TAX AND SPECIAL SOURCE CREDIT AGREEMENTCredit Agreement • December 2nd, 2022
As permitted under Section 12-44-55(B), Code of Laws of South Carolina 1976, as amended (the “Code”), the parties have agreed to waive the requirements of Section 12-44-55 of the Code. The following is a summary of the key provisions of this Fee in Lieu of Tax and Special Source Credit Agreement. This summary is inserted for convenience only and does not constitute a part of this Fee in Lieu of Tax and Special Source Credit Agreement or a summary compliant with Section 12-44-55 of the Code.
FEE IN LIEU OF TAX AND SPECIAL SOURCE CREDIT AGREEMENTCredit Agreement • December 1st, 2022
Agreement”) is made and entered into as of , 20 by and between GREENVILLE COUNTY, SOUTH CAROLINA (the “County”), a body politic and corporate and a political subdivision of the State of South Carolina (the “State”), acting by and through the Greenville County Council (the “County Council”) as the governing body of the County, and , a
FEE IN LIEU OF TAX AND SPECIAL SOURCE CREDIT AGREEMENTCredit Agreement • November 21st, 2022
FEE IN LIEU OF TAX AND SPECIAL SOURCE CREDIT AGREEMENTCredit Agreement • September 29th, 2022 • South Carolina
As permitted under Section 12-44-55(B), Code of Laws of South Carolina 1976, as amended (the “Code”), the parties have agreed to waive the requirements of Section 12-44-55 of the Code. The following is a summary of the key provisions of this Fee in Lieu of Tax and Special Source Credit Agreement. This summary is inserted for convenience only and does not constitute a part of this Fee in Lieu of Tax and Special Source Credit Agreement or a summary compliant with Section 12-44-55 of the Code.
FEE IN LIEU OF TAX AND SPECIAL SOURCE CREDIT AGREEMENTCredit Agreement • May 13th, 2022
As permitted under Section 12-44-55(B), Code of Laws of South Carolina 1976, as amended (the “Code”), the parties have agreed to waive the requirements of Section 12-44-55 of the Code. The following is a summary of the key provisions of this Fee in Lieu of Tax and Special Source Credit Agreement. This summary is inserted for convenience only and does not constitute a part of this Fee in Lieu of Tax and Special Source Credit Agreement or a summary compliant with Section 12-44-55 of the Code.
FEE IN LIEU OF TAX AND SPECIAL SOURCE CREDIT AGREEMENTCredit Agreement • January 26th, 2022
As permitted under Section 12-44-55(B), Code of Laws of South Carolina 1976, as amended (the “Code”), the parties have agreed to waive the requirements of Section 12-44-55 of the Code. The following is a summary of the key provisions of this Fee in Lieu of Tax and Special Source Credit Agreement. This summary is inserted for convenience only and does not constitute a part of this Fee in Lieu of Tax and Special Source Credit Agreement or a summary compliant with Section 12-44-55 of the Code.
FEE IN LIEU OF TAX AND SPECIAL SOURCE CREDIT AGREEMENTCredit Agreement • December 6th, 2021
As permitted under Section 12-44-55(B), Code of Laws of South Carolina 1976, as amended (the “Code”), the parties have agreed to waive the requirements of Section 12-44-55 of the Code. The following is a summary of the key provisions of this Fee in Lieu of Tax and Special Source Credit Agreement. This summary is inserted for convenience only and does not constitute a part of this Fee in Lieu of Tax and Special Source Credit Agreement or a summary compliant with Section 12-44-55 of the Code.
FEE IN LIEU OF TAX AND SPECIAL SOURCE CREDIT AGREEMENTCredit Agreement • October 28th, 2021
As permitted under Section 12-44-55(B), Code of Laws of South Carolina 1976, as amended (the “Code”), the parties have agreed to waive the requirements of Section 12-44-55 of the Code. The following is a summary of the key provisions of this Fee in Lieu of Tax and Special Source Credit Agreement. This summary is inserted for convenience only and does not constitute a part of this Fee in Lieu of Tax and Special Source Credit Agreement or a summary compliant with Section 12-44-55 of the Code.
FEE IN LIEU OF TAX AND SPECIAL SOURCE CREDIT AGREEMENTCredit Agreement • August 31st, 2021
Agreement”) is made and entered into as of September [] 2021, by and between GREENVILLE COUNTY, SOUTH CAROLINA (the “County”), a body politic and corporate and a political subdivision of the State of South Carolina (the “State”), acting by and through the Greenville County Council (the “County Council”) as the governing body of the County, and PARK VIEW (GREER), LLC, a limited liability company organized and existing under the laws of the State of South Carolina (the “Company”).
FEE IN LIEU OF TAX AND SPECIAL SOURCE CREDIT AGREEMENTCredit Agreement • March 30th, 2021
Company Name: WILLCOLL LAND, LLC Project Name: PROJECT MILA Projected Investment: $33,000,000 Projected Jobs: Location (street): Tax Map No.: 1. FILOT Required Investment: $10,000,000 Investment Period: 5 years Ordinance No./Date: Assessment Ratio: 6% Term (years): 30 years Fixed Millage: .3144 Net Present Value (if yes, discount rate): Clawback information: If the Contract Minimum Investment Requirement is not met during the InvestmentPeriod, the Fee Agreement will retroactively terminate. 2. MCIP Included in an MCIP: Greenville/Anderson If yes, Name & Date: December 1, 2010 3. SSRC Total Amount: No. of Years 15 years Yearly Increments: 25% Clawback information: 4. Other information If the Contract Minimum Investment Requirement is not met during the Investment Period, the Fee Agreement will retroactively terminate.
FEE IN LIEU OF TAX AND SPECIAL SOURCE CREDIT AGREEMENTCredit Agreement • October 2nd, 2020
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FEE IN LIEU OF TAX AND SPECIAL SOURCE CREDIT AGREEMENTCredit Agreement • August 13th, 2020
Company Name: 10 Academy Opportunity Zone Fund I, L.L.C. Project Name: Project Unity Gateway Projected Investment: $50,000,000 Projected Jobs: N/A Location (street): 10 South Academy Street Greenville, South Carolina 29601 Tax Map No.: 0050.00-02-001.000050.00-02-001.040050.00-02-001.050050.00-02-001.06 1. FILOT Required Investment: $50,000,000 Investment Period: 5 years OrdinanceNo./Date: Assessment Ratio: 6% Term (years): 20 years Fixed Millage: 0.34960 mils0.35600 mills Net Present Value(if yes, discount rate): N/A Clawback information: Failure to meet Contract Minimum Investment Requirement of $50,000,000 during Investment Period shall result in the retroactive and prospective termination of the Fee Agreement, including the clawback of any previouslyreceived Special Source Credits. 2. MCIP Included in an MCIP: Yes – To be added to an existing MCIP Agreement effective as of September 9, 2021 which is one day after the existing TIF Agreement applicable to thePro
FEE IN LIEU OF TAX AND SPECIAL SOURCE CREDIT AGREEMENTCredit Agreement • July 13th, 2020 • South Carolina
Company Name: [TO COME] Project Name: Project McClaren Projected Investment: $36,000,000 Projected Jobs: N/A Location (street): [TO COME] Tax Map No.: [TO COME] 1. FILOT Required Investment: $36,000,000 Investment Period: 5 years Ordinance No./Date: [TO COME] Assessment Ratio: 6% Term (years): 20 years Fixed Millage: 0.3560 mills1 Net Present Value (if yes, discount rate): N/A Clawback information: See Section 4.03(a) 2. MCIP Included in an MCIP: Yes If yes, Name & Date: Greenville/Anderson 2010 Park 3. SSRC Total Amount: 50% No. of Years 20 years Yearly Increments: Clawback information: See Sections 4.02(d)&(e) and 4.03 4. Other information
FEE IN LIEU OF TAX AND SPECIAL SOURCE CREDIT AGREEMENTCredit Agreement • November 27th, 2019
Company Name: Vermeer Corporation Project Name: Project Yellow Projected Investment: $19,864,100 Projected Jobs: 25 Location (street): Augusta Road Tax Map No.: 0602020101700 1. FILOT Required Investment: $15,891,280 Investment Period: 5 years Ordinance No./Date: Assessment Ratio: 6% Term (years): 30 Fixed Millage: 308.5 mills Net Present Value (ifyes, discount rate): Clawback information: If the Contract Minimum Investment is not made by the end of the Investment Period, the Fee Agreement will be terminated retroactively 2. MCIP Included in an MCIP: To be added to Greenville/Anderson (2010 Park) If yes, Name & Date: 3. SSRC Total Amount: No. of Years 10 Yearly Increments: 20% Clawback information: If the Contract Minimum Investment is not made by the end of the Investment Period and maintained thereafter, the SSRC's received by the Company will be repaid with interest. 4. Other information
FEE IN LIEU OF TAX AND SPECIAL SOURCE CREDIT AGREEMENTCredit Agreement • September 13th, 2019
As permitted under Section 12-44-55(B), Code of Laws of South Carolina 1976, as amended (the “Code”), the parties have agreed to waive the requirements of Section 12-44-55 of the Code. The following is a summary of the key provisions of this Fee in Lieu of Tax and Special Source Credit Agreement. This summary is inserted for convenience only and does not constitute a part of this Fee in Lieu of Tax and Special Source Credit Agreement or a summary compliant with Section 12-44-55 of the Code.
FEE IN LIEU OF TAX AND SPECIAL SOURCE CREDIT AGREEMENTCredit Agreement • August 15th, 2019
Company Name: [to be provided] Project Name: Project Yellow Projected Investment: $19,864,100 Projected Jobs: 25 Location (street): [to be provided] Tax Map No.: [to be provided] 1. FILOT Required Investment: $15,891,280 Investment Period: 5 years Ordinance No./Date: Assessment Ratio: 6% Term (years): 30 Fixed Millage: 308.5 mills Net Present Value (ifyes, discount rate): Clawback information: If the Contract Minimum Investment is not made by the end of the Investment Period, the Fee Agreement will be terminated retroactively 2. MCIP Included in an MCIP: To be added to Greenville/Anderson (2010 Park) If yes, Name & Date: 3. SSRC Total Amount: No. of Years 10 Yearly Increments: 20% Clawback information: If the Contract Minimum Investment is not made by the end of the Investment Period and maintained thereafter, the SSRC's received by the Company will be repaid with interest. 4. Other information
FEE IN LIEU OF TAX AND SPECIAL SOURCE CREDIT AGREEMENTCredit Agreement • March 12th, 2019
Company Name: 3M Company Project Name: Project Midnight Projected Investment: $60,000,000 Projected Jobs: 5 new jobs (butrequired) not Location (street): 1400 PerimeterGreenville, SC 29605 Road, Tax Map No.: 0400010101900040010101902 and 1. FILOT RequiredInvestment: $60,000,000 Investment Period: 5 years OrdinanceNo./Date: ;March 19, 2019 Assessment Ratio: 6.0% Term (years): 30 years Fixed Millage: 338.6 Net Present Value(if yes, discount rate): N/A Clawback information: If Company fails to invest $10,000,000 by the end of Investment Period, the Fee Agreement shall be terminated and the Company shall be liable for difference between payment in lieu of taxes paid pursuant to Fee Agreement (taking into account all special source credits actually received) and the amount of ad valorem taxes which would have been due and payable with respect to the Project had theFee Agreement not be entered into with interest at rate payable for late payment of taxes. 2. MCIP Included
FEE IN LIEU OF TAX AND SPECIAL SOURCE CREDIT AGREEMENTCredit Agreement • February 14th, 2019
Company Name: Project Name: Project Midnight Projected Investment: $60,000,000 Projected Jobs: Location (street): Tax Map No.: 1. FILOT RequiredInvestment: $60,000,000 Investment Period: 5 years OrdinanceNo./Date: Assessment Ratio: 6.0% Term (years): 30 years Fixed Millage: 338.6 Net Present Value (if yes, discountrate): N/A Clawback information: If Company fails to invest $10,000,000 by the end of Investment Period, the Fee Agreement shall be terminated and the Company shall be liable for difference between payment in lieu of taxes paid pursuant to Fee Agreement (taking into account all special source credits actually received) and the amount of ad valorem taxes which would have been due and payable with respect to the Project had the Fee Agreement not be entered into with interest at rate payable for late paymentof taxes. 2. MCIP Included in anMCIP: Yes (already located in an existing MCIP between Greenville County andLaurens County) If yes, Name &Date:
FEE IN LIEU OF TAX AND SPECIAL SOURCE CREDIT AGREEMENTCredit Agreement • September 26th, 2017
Company Name: [PROJECT VERON] Project Name: PROJECT VERON Projected Investment: $7,500,000 Projected Jobs: 17 Location (street): [to be provided] Tax Map No.: Portion of 0400020100100 1. FILOT Required Investment: $6,000,000 Investment Period: 5 years Ordinance No./Date: Assessment Ratio: 6% Term (years): 30 Fixed Millage: 314.9 Net Present Value (if yes, discount rate): Clawback information: If the company does not invest at least $6,000,000 in new real and personal property within the 5 year investment window, then this Fee in Lieu of Tax and Special Source Credit Agreement will be terminated retroactively, and the company will be required to reimburse Greenville County the difference in the FILOT versus normal taxes plus interest. 2. MCIP Included in an MCIP: Yes If yes, Name & Date: Greenville-Laurens Multi-County Park, pursuant to the “Agreement for Development forJoint County Industrial Park” between Greenville and Laurens County, dated as of March 22, 199
FEE IN LIEU OF TAX AND SPECIAL SOURCE CREDIT AGREEMENTCredit Agreement • June 15th, 2017 • South Carolina
Company Name: Softbox Systems, Inc. Project Name: Project Thor Projected Investment: $10,525,000 Projected Jobs: 69 Location (street): [to be determined] Tax Map No.: TMS # WG 10.7-1-1.4 1. FILOT Required Investment: $10,200,000 Investment Period: 5 years Ordinance No./Date: Assessment Ratio: 6% Term (years): 30 Fixed Millage: 337.0 Net Present Value (ifyes, discount rate): Clawback information: Failure to achieve the investment target of $10,200,000 within the investment period, company must payback difference between incentive and normal taxes plus interest. 2. MCIP Included in an MCIP: Yes If yes, Name & Date: Greenville-Anderson (2010 Park) 3. SSRC Total Amount: 10% No. of Years 10 Yearly Increments: Clawback information: Failure to achieve the investment target of $10,200,000 within the investment period, company must payback difference between incentive and normal taxes plus interest;company must maintain investment for term of SSRC or SSRC termina
FEE IN LIEU OF TAX AND SPECIAL SOURCE CREDIT AGREEMENTCredit Agreement • May 23rd, 2017
FEE IN LIEU OF TAX AND SPECIAL SOURCE CREDIT AGREEMENTCredit Agreement • May 12th, 2017 • South Carolina
Company Name: [Project Thor] Project Name: Project Thor Projected Investment: $10,525,000 Projected Jobs: 69 Location (street): [to be provided] Tax Map No.: [to be provided] 1. FILOT Required Investment: $10,200,000 Investment Period: 5 years Ordinance No./Date: Assessment Ratio: 6% Term (years): 30 Fixed Millage: 337.0 Net Present Value (ifyes, discount rate): Clawback information: Failure to achieve the investment target of $10,200,000 within the investment period, company must payback difference between incentive and normal taxes plus interest. 2. MCIP Included in an MCIP: Yes If yes, Name & Date: Greenville-Anderson (2010 Park) 3. SSRC Total Amount: 10% No. of Years 10 Yearly Increments: Clawback information: Failure to achieve the investment target of $10,200,000 within the investment period, company must payback difference between incentive and normal taxes plus interest;company must maintain investment for term of SSRC or SSRC terminates 4. Other
FEE IN LIEU OF TAX AND SPECIAL SOURCE CREDIT AGREEMENTCredit Agreement • March 29th, 2017
As permitted under Section 12-44-55(B), Code of Laws of South Carolina 1976, as amended (the “Code”), the parties have agreed to waive the requirements of Section 12-44-55 of the Code. The following is a summary of the key provisions of this Fee in Lieu of Tax and Special Source Credit Agreement. This summary is inserted for convenience only and does not constitute a part of this Fee in Lieu of Tax and Special Source Credit Agreement or a summary compliant with Section 12-44-55 of the Code.
FEE IN LIEU OF TAX AND SPECIAL SOURCE CREDIT AGREEMENTCredit Agreement • December 1st, 2016
Company Name: Sealed Air Corporation (US) Project Name: Project Breeze Projected Investment: $78,421,177 Projected Jobs: 30 Location (street): 803 North Maple Street Simpsonville, SC 29681 Tax Map No.: 03-03-000-100-201 1. FILOT Required Investment: $2,500,000 Investment Period: See § 1.01 Ordinance No./Date: December 6, 2016 Assessment Ratio: 6% Term (years): 30 Fixed Millage: 290.8 Net Present Value (ifyes, discount rate): no Clawback information: See § 4.03 2. MCIP Included in an MCIP: Yes If yes, Name & Date: Greenville-Anderson, October 6, 1998 3. SSRC Total Amount: 25% - 35% depending on the amount of investment during Investment Period. Minimuminvestment of $20,000,000 required. No. of Years 15 years Yearly Increments: Clawback information: See § 4.02(d) 4. Other information Property allowed pursuant to § 12-44-110(3) not included in Project. See definition of “Project” under Section 1.01.
FEE IN LIEU OF TAX AND SPECIAL SOURCE CREDIT AGREEMENTCredit Agreement • December 1st, 2016
Company Name: P & L Development, LLC (Operating Company) Donaldson South Distribution, Inc. (Landlord) Project Name: Project Locate Projected Investment: $45,000,000 Projected Jobs: 450 Location (street): 513 Old Griffin Road Piedmont, SC 29673 Tax Map No.: 0593040101303 1. FILOT Required Investment: $2,500,000 Investment Period: 5 years Ordinance No./Date: Assessment Ratio: 6% Term (years): 30 Fixed Millage: .2964 Net Present Value (ifyes, discount rate): No. Clawback information: See Section 4.03 of this Agreement. 2. MCIP Included in an MCIP: To be included in the 2010 Anderson/Greenville MCIP If yes, Name & Date: 3. SSRC Total Amount: 40% of FILOT Payments No. of Years 10 years. The SSRC will begin once the company invests more than $36 million innew real and personal property Yearly Increments: Clawback information: Subject to $22,000,000 maintenance requirement. See Section 4.02(d) of this Agreement. 4. Other information
