Chancellor Advises He Plans To Rule $9 Million TIF For Aetna Mountain Road Is Void

Friday, July 11, 2014

Chancellor Frank Brown has advised attorneys that he plans to put down an order on Monday ruling that a $9 million Tax Increment Financing (TIF) bond issue is invalid.

The judge said the City Industrial Development Board (IDB) violated the Open Meetings Act in the way the matter was approved.

He also cited the fact that approval of the bonds to build a road and sewer line to the top of Aetna Mountain in Lookout Valley was based on an opinion from an attorney who was paid $50,000 by the developers, who include Gary Chazen and Doug Stein.

Chancellor Brown also said there was sufficient evidence that the planned development did not meet the definition of an eligible project under state law authorizing TIFs.

Chancellor Brown said with the TIF void that, if a new one is sought, there would have to be a new application filed and notices sent out, then a reconvening and vote of the IDB.

The bonds have been issued and were bought, according to the attorney for plaintiff Helen Burns Sharp, by the developers themselves. He said they stood to make money on the interest involved.

Chancellor Brown said there will not be a trial. It had been set to begin on Tuesday and last several days.

He said his will be a final order on all the issues in the case and can be appealed.

Ms. Burns, a retired planner, had taken on the city, county, IDB and developers in her lawsuit.

She is represented by attorney John Konvalinka.


Hardeman County Man Charged In Savannah Homicide

A joint investigation by   special agents with the Tennessee Bureau of Investigation and officers from several other west Tennessee law enforcement agencies has resulted in the arrest of a Pocahontas man on a charge of first-degree murder. At the request of the office of 24 th  District Attorney General Matt Stowe, TBI special agents joined officers with the Savannah ... (click for more)

PHOTOS: MainX24 Parade

Tennessee River Gorge Trust Trail Warriors Make You Want To Take A Hike

Trail warriors of the Tennessee River Gorge Trust make you want to take a hike.  The Tennessee River Gorge Trust staff and volunteers make a huge difference in the Chattanooga community and have been making the outdoor areas around the River Gorge clean and protected for more than 30 years.  They deserve to be recognized and praised for all of the hard work they have ... (click for more)

Roy Exum: Among The Worst In U.S.

Bobby Bragan, who was the first manager of Major League Baseball’s Braves when they moved from Milwaukee to Atlanta, had a great view on statistics: “Say you were standing with one foot in the oven and one foot in an ice bucket. According to the percentage people, you should be perfectly comfortable.” I am about to make you uncomfortable with some lousy statistics. Earlier this ... (click for more)

Bradley Totally Dominates Ooltewah Invitational

We’re just now through the second week of the high school wrestling season, but the Bradley Bears appear to already be in mid-season form. The Bears, defending state champs for the duals and the traditional tournament, won the Heritage Duals last weekend and they added the Ooltewah Invitational this week as they claimed 10 champions and won going away with 268.5 points. The ... (click for more)

UTC Wrestling: Mocs, Bryce Carr Host Virginia Today

Former Minnesota All-American wrestler Gerald Carr has stood on the podium His son, UTC junior Bryce Carr has a goal of standing on that same podium. “Bryce can be an All-American this year and stand on that podium,” said Gerald who was sixth in 1996 for the Golden Gophers. “He just needs to maintain that killer instinct and continue to dictate the pace of the matches.” ... (click for more)