Spartanburg County Council Agenda Packet 2026-05-18
County to amend special source credit for Haven at West Broad
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Description
Spartanburg County is moving to execute an Amended and Restated Special Source Credit Agreement with Haven at West Broad, LLC for the Magnolia Multi-Family 2 development, adding an additional parcel and adjusting fee payment calculations. The agreement will provide ongoing infrastructure credits funded from fee-in-lieu payments to support the project’s expanded investment.
Contract Details
Vendor
HAVEN AT WEST BROAD LLC
Agency
Cherokee Springs Fire District, SC
Contract Type
FINANCIAL_SERVICES
Document Date
May 18, 2026
Contract Term
30 years of infrastructure credits tied to fee payments (per underlying agreement)
Renewal Info
Amended and Restated Special Source Credit Agreement replaces the original May 20, 2024 agreement, incorporating an additional parcel and revised payment terms; credits continue for the originally established 30-year period from the first fee payment.
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