posted September 27, 2008
Jimmy and Molly Seal of Signal Mountain are planning to sell 16.8 acres to the town of Farragut for $1.25 million.
According to the Knoxville News Sentinel, the McFee Road property in the rapidly growing West Knox County community may be turned into public parkland.
A purchase agreement for the land was approved by the town's Board of Mayor and Aldermen earlier this month.
Farragut officials had initially eyed the land as the possible site of a new Knox County elementary school. However, that proposal has been scratched, and town officials told the newspaper the land might now be used as a possible extension to the nearby, under-construction McFee Park, or as the site of a community or senior center.
Another piece of property for sale lies between the Seal and McFee Park parcels.
The newspaper said that, if the purchase agreement goes forward, the Seal land would be sold for 19 percent more than its appraised value of $1.05 million.
Farragut officials also pointed out that the town of Farragut is below national benchmarks for amount of parkland per resident.
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