FINANCIAL_SERVICESAPPROVED

Chester County Council Meeting Agenda September 2025

FILOT and Revenue Credit Deal Approved for Chester Asphalt Terminal

Approximately $22,050,000 investment (FILOT, no direct expenditure); administrative expense reimbursement up to $5,000, and annual $750 maximum for out-of-pocket reporting complianceChester CountyCHESTER ASPHALT TERMINAL LLCSeptember 15, 2025

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Description

Chester County Council approved a FILOT and Special Source Revenue Credit agreement with Chester Asphalt Terminal LLC, securing a $22,050,000 investment over a 10-year commitment period. The agreement sets a 30-year fee schedule and provides annual tax credits for the company's infrastructure spending.

Contract Details

Contract Amount

Approximately $22,050,000 investment (FILOT, no direct expenditure); administrative expense reimbursement up to $5,000, and annual $750 maximum for out-of-pocket reporting compliance

Vendor

CHESTER ASPHALT TERMINAL LLC

Agency

Chester County, SC

Contract Type

FINANCIAL_SERVICES

Document Date

September 15, 2025

Contract Term

30 years for each annual increment of investment during a 10 year investment period; agreement dated as of September 2, 2025

Renewal Date

2055-12-31

Renewal Info

Initial term is 30 years per investment increment; potential adjustments or early termination per agreement. No automatic renewal; extensions require written amendments.