Greenville County Council is expected to vote Tuesday night on a tax break for a development that could create 600 jobs in the county.
Called “Project Hands” in the council’s agenda disclosure, the project would invest $95 million in Greenville County, but the company behind the project, exactly what and where it needs to be to go have so far remained unknown to General Publique.
The deal is a tax-in-lieu deal, meaning the company will pay the county a royalty instead of the property tax it would pay on the development – with the idea that the creation of jobs and investment in Greenville County have a comparable effect. the public interest to that of taxes.
If approved on Tuesday evening, the project should win one more vote to secure final approval.
To establish the company’s tax relief, a mileage rate of 326.6 will be applied to the assessed value of the property to determine the fees the company will pay over the next 30 years, under the terms of the deal. The agenda posted for the county council ahead of Tuesday night’s meeting did not reveal the amount of land, location or its value.
County Councilor Dan Tripp, the council member responsible for introducing the project and chairman of the council’s finance committee, did not immediately return a phone call Monday asking for more details about the project.
The story will be updated. Come back for more.
Genna Contino covers Greenville County and housing for The Greenville News. Contact Genna at firstname.lastname@example.org or on Twitter @GennaContino. Subscribe to The Greenville News at greenvillenews.com/subscribe.