City of Crossville - File #: 18-0380

• File #: 18-0380
• Version: 2
• Name: JECDB recommendation on IBP pad site
• Type: Resolution
• Status: Passed
• File created: 9/26/2018
• In control: City Council
• On agenda: 10/9/2018
• Final action: 10/9/2018
• Title: Discussion and action on JECDB recommendation on Interchange Business Park pad site
• Sponsors: Joint Economic Development Board

Date	Ver.	Action By	Action	Result
10/9/2018	2	City Council	approved	Pass
10/2/2018	1	Work Session	recommended for approval

Title

Discussion and action on JECDB recommendation on Interchange Business Park pad site

Body

SUMMARY: The Joint Economic and Community Development Board met September 25 and discussed the industrial pad site in Interchange Business Park. The Board passed a motion to recommend that the site be offered for $2 million ($100,000 per acre), with a minimum of 100 jobs and a wage rate of at least ten percent higher than the current local average, with state and local incentives available.

With the recent change order of $50,000, the contract for development is $898,000. 

City Council voted on September 12, 2017 to offer the property for $75,000 per acre.

Recommended Action

NECESSARY COUNCIL ACTION: Approve JECDB recommendation