FINANCIAL_SERVICESAPPROVED

Laurens County Council Meeting Agenda Packet April 2026

Laurens County Approves FILOT Deal With Aptiv Services

Approximately $120,815,000 investment; 60% special source revenue credit for 10 yearsHousing Authority Of LaurensAPTIV SERVICES US LLCApril 13, 2026

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Description

Laurens County Council approved Ordinance 1004 authorizing a 30‑year fee in lieu of tax and special source revenue credit agreement with Aptiv Services US, LLC for its Project Oracle investment of about $120.8 million. The agreement provides a reduced assessment ratio and 10 years of 60% credits in exchange for the company’s manufacturing expansion and job creation at the Connexial MCIP site.

Contract Details

Contract Amount

Approximately $120,815,000 investment; 60% special source revenue credit for 10 years

Vendor

APTIV SERVICES US LLC

Agency

Housing Authority Of Laurens, SC

Contract Type

FINANCIAL_SERVICES

Document Date

April 13, 2026

Contract Term

30 years from Commencement Date; 10-year special source revenue credit period within term

Renewal Date

2056-12-31

Renewal Info

FILOT term is 30 years with a five‑year investment period; includes clawback provisions if the FILOT Act minimum investment and contract minimum investment requirements are not satisfied. No automatic renewal beyond the statutory term.