Oak Ridge Today

State comptroller approves $13 million agreement for Oak Ridge Mall

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Oak Ridge Mall

The Tennessee Comptroller has approved the use of a $13 million tax financing agreement that could be used for the $85 million redevelopment of the Oak Ridge Mall. The L-shaped mall is pictured at center above.

The Tennessee Comptroller has approved a $13 million tax financing agreement that could be used for the $85 million redevelopment of the Oak Ridge Mall.

The approval was announced in a Wednesday letter from Tennessee Comptroller Justin P. Wilson to Nashville law firm Bradley, Arant, Boult, and Cummings, which is working with Crosland Southeast, the North Carolina company that wants to redevelop the mostly empty mall.

The 20-year tax increment financing, or TIF, agreement, would use new property tax revenues generated at the 59-acre site to help pay for development costs, possibly including tearing down the existing space between the two remaining anchor stores, JCPenney and Belk, as well as for replacing aging infrastructure and building new roads. [Read more…]

Appeals court sides with Powell-Clinch utility commissioners

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Information from WYSH Radio

The commissioners of the Powell-Clinch Utility District scored a legal victory last week in their dispute with the state’s Utility Management Review Board when an appeals court overturned a lower court’s ruling that they could be held liable for, and removed from office, for acts that allegedly occurred before a change in state law in 2009.

The issue before the appeals court was to determine if the three commissioners—Charles Oldham, Jerry Shattuck, and Charles Taylor—could be removed from office based on a change in state law that went into effect in June of 2009 which added an amendment that “failing to fulfill the commissioner or commissioners’ fiduciary responsibility in the operation or oversight of the district” would be considered as one of the possible grounds for the removal of utility even if the alleged acts occurred before the amendment went into effect. [Read more…]