FINANCIAL_SERVICESONGOING

Chester County Council Meeting Agenda September 2025

Long-Term FILOT and Revenue Credit in Effect 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

Trusted by teams at

Description

Chester Asphalt Terminal LLC's FILOT and Special Source Revenue Credit Agreement is now in effect, securing $22,050,000 in investment and providing long-term tax incentives tied to project development milestones and infrastructure investment.

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

Agreement automatically governs each new increment of project investment for 30 years. Amendments, extensions, or terminations require council and company action; administrative expenses require annual review.