August 2nd , 2013 10:00 am Leave a comment

Board thinks PILOT could help west-end development lift off

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Although city and county officials have discussed developing the area around West Elk Avenue in western Elizabethton for several years, a proposal from an incoming investor might help that development finally take flight.

Photo by Brandon HicksCarter County Tomorrow President Tom Anderson discusses a proposed PILOT agreement with the county’s Industrial Development Board Thursday morning. The PILOT would be used to reimburse an incoming business for the cost of relocating a sewer line.

Photo by Brandon Hicks
Carter County Tomorrow President Tom Anderson discusses a proposed PILOT agreement with the county’s Industrial Development Board Thursday morning. The PILOT would be used to reimburse an incoming business for the cost of relocating a sewer line.

On Monday, the county’s Industrial Development Board approved a request to present an offer for a payment-in-lieu-of-taxes agreement to the Ocoee Foundation, which has expressed interest in opening an assisted-living facility on West Elk Avenue in the vacant lot next to Medical Care.

The PILOT agreement would serve to compensate the Ocoee group for its costs in relocating a sewer line that would impede construction in the 1.4-acre parcel of land in question. While those costs are estimated to bottom out at $250,000, the proposed PILOT agreement would be for the maximum cost projection of $275,000.

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