Planned TIF Project On MLK Boulevard Near Riverfront To Get Economic Impact Study, Public Hearing

Tuesday, November 14, 2017

City officials said there will be an economic impact study of an extension of MLK Boulevard to be made possible by a $4 million-$4.5 million TIF (Tax Increment Financing). Officials said it will help make possible a new apartment development, office building and restaurant by the Tennessee River.

Cherita Allen, deputy city economic development director, said there will also be a public hearing.

She said the project will go back to the city Industrial Development Board, which earlier got a presentation about the plan, on Dec. 5.

It is expected to go back to the City Council for a final vote on Dec. 19.

Officials said the mid-rise apartments will have 180 units with 38 set aside for those with moderate incomes. There will be a swimming pool and fitness club.

The restaurant, located south of the MLK Boulevard extension, will have 4,000 square feet.

The office building, which is along Riverfront Parkway and north of MLK Boulevard, features 30,000 square feet.

The $35 million in development will be spurred by the TIF, which will allow the developers to get a private loan and then repay it through additional tax income in the TIF district, officials said.

The plan includes lining up the MLK Boulevard extension with the current alignment of the road that comes from downtown. It will replace the current Fulton Street.

A traffic light is planned at the intersection.

The extension will include sidewalks, landscaping, a bicycle path, and on-street parking.

Officials said, "Fulton Street is unimproved. The riverfront is currently lined with a chain link fence with barb wire. The lot is currently overgrown and blocks the public's view of the river and Blue Goose Landing trailhead."

The city's original plan included an extension to the river of MLK Boulevard, it was stated.

The project is by Evergreen Real Estate of Nashville, which has a number of apartment facilities here and elsewhere.

Work is set to start early next year and be finished by the middle of 2019.

The contractor will be Highland Building Group. HK Architects and March Adams Engineering will be involved. Evergreen Real Estate will be the property manager.

Term of the TIF would be 15 years.



Latest Hamilton County Jail Booking Report

Here is the latest jail booking report from Hamilton County: ANDERSON, CEAUNA JASHAE  2501 OAK ST CHATTANOOGA, 37404  Age at Arrest: 19 years old Arresting Agency: Chattanooga DOMESTIC ASSAULT --- BLEVINS, JAMES BRAYDEN  683 BANDY RD RINGGOLD, 30736  Age at Arrest: 27 years old Arresting Agency: Chattanooga THEFT OF PROPERTY DRUGS GENERAL ... (click for more)

Catoosa County Arrest Report For Feb. 16-22

Click  here  for the Catoosa County arrest report for Feb. 16-22. (click for more)

Legislators: Protect Our Students And Teachers

When students step into their classrooms, they are there to learn and prepare for their future. Our teachers serve to advance each student’s education and guide them towards success.  Educators have an additional responsibility: maintaining the trust and respect of their students by conducting themselves professionally and responsibly. The vast majority of our ... (click for more)

Roy Exum: Why CNN Is Gonna Croak

I believe CNN (Cable News Network) has become one of the most disappointing news sources America has ever known in the last five years. The bastions of sound journalism no longer exist as the once-great organization has gone the way of liberal loathing. Its new basis-of-fact cannot be trusted and the overwhelming bias against conservatives in our nation is as morbid as it is frightening. ... (click for more)

Baylor Boys Advance To D-II Final Four

Baylor and Ensworth split their two regular-season basketball games with the Red Raiders prevailing by 15 at home while the Tigers won by a dozen in Nashville. They played the rubber game in the series Saturday at Baylor’s Jimmy Duke Arena. The game was much closer than either of the first two, but the home team won again as Baylor improved to 18-6 with the closer-than-it-sounds ... (click for more)

Cookeville Shocks Cleveland, 70-68, In Region 3-3A Tournament

CLEVELAND, Tenn. – As a No. 1 seed, Cleveland had reason to feel comfortable going into Saturday’s Region 3-3A boys’ basketball tournament against No. 4 Cookeville. However, the Cavaliers figured they were the Blue Raiders’ equal. And they were. Cookeville overcame a sluggish start and then took the battle to Cleveland over the final three quarters, Noah Hilliker ... (click for more)