Hamilton County officials said they plan to swap a 3+-acre property along the Tennessee River near the Alstom plant to developers in exchange for the nearby Alstom Park.
Tom Lamb, county parks director, said, "In 2013, Hamilton County acquired a 3+ acre parcel along the river, utilizing a Local Park and Recreation Fund (LPRF) grant from TDEC.
"The Design Alloys parcel was acquired to accommodate a portion of the latest segment of the Tennessee Riverwalk. No additional amenities or facilities have been planned for this parcel, beyond the Riverwalk construction that was completed in 2016.
"Earlier this year, Hamilton County was approached by the developers that purchased the former Alstom property with an interest in the county-owned parcel. Land acquired and/or developed with LPRF grant funds is required to be used for public recreation in perpetuity. A Conversion, as outlined by TDEC regulations, is the only method to remove this restriction.
"This process involves replacement land that is reasonably equivalent in usefulness and location as that being converted. Hamilton County has worked with the developers to identify property within the former Alstom site that meets or exceeds this requirement.
"The developers have committed to leaving the existing Riverwalk and adding a connection to the proposed site.This will result in an additional amenity that could extend the Main Street corridor through the future development and connect to the Riverwalk."