Title
Matters relative to TLD Logistics Services
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SUMMARY:
A Letter of Intent has been received from TLD Logistics Services Inc. to purchase 5.4 acres adjacent to their current property on Interchange Drive for the building of a 10,000 s.f. permanent shop maintenance facility and additional parking. They have offered to purchase the property for $250,000 and commit to hire 25 new employees within one year. In exchange, the City will furnish a TDEC ARAP permit for a 100' culvert between the properties, general construction permit, and re-submit an application to TDOT for a traffic signal at the intersection with Hwy. 127S.
As required by Charter, the sale of the property is contingent upon the results from advertising of the proposed sale.
BUDGET ACCOUNT:
Recommended Action
NECESSARY COUNCIL ACTION: Approve sale of property to TLD Logistics Services under recommended terms and pending advertising requirements.