Note: This is a copy of a Nov. 6 letter sent by the Oak Ridge Chamber of Commerce to the Oak Ridge City Council and Anderson County Commission. The Oak Ridge City Council approved the tax increment financing for the Oak Ridge Mall redevelopment in a 6-0 vote on Monday.
Dear members of Council and Commission:
Today, in a full retreat attended by the board of directors of the Oak Ridge Chamber of Commerce and numerous Chamber Millennium Partners, our board unanimously adopted a position urging Oak Ridge City Council and Anderson County Commission to unanimously approve tax increment financing (TIF) for redevelopment of the Oak Ridge Mall property.
This is the most critical near-term economic development project in Oak Ridge and Anderson County. It will undoubtedly impact our economy, our ability to attract additional retail/commercial projects, and our community pride.
Some specifics are:
- Our community will get an $80 million capital investment for the tax forgiveness of the $13 million in future property taxes.
- There is no financial risk for the taxpayers of Oak Ridge or Anderson County.
- Estimated sales tax to be generated once the project is complete will benefit government and schools by more than $1 million per year.
- Crosland Southeast, the developer, has successfully completed similar redevelopment projects on distressed properties in communities like ours.
- This development will attract customers from surrounding counties, once again making Oak Ridge and Anderson County a retail center for our region.
A unanimous vote will send a strong message to Crosland Southeast and their partners that the community is supportive of the project. And, finally, a unanimous vote will communicate to the citizens of Oak Ridge and Anderson County that there is a united effort supporting this project.
Stephen Whitson
Chairman of the Board
Oak Ridge Chamber of Commerce
President, H-S Whitson Construction Co. Inc.
Oak Ridge Chamber of Commerce Board of Directors, Millennium Partners, and Staff
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