
The Anderson County Operations Committee on Monday unanimously recommends a tax financing agreement that could help with the $85 million redevelopment of the Oak Ridge Mall. Pictured above from left are Anderson County commissioners Robert McKamey, Zach Bates (partially obscured), Tracy Wandell, Whitey Hitchcock, Steve Emert, Rick Meredith, and John Shuey.
CLINTON—An Anderson County committee has unanimously recommended a $13 million tax financing agreement that could be used to help redevelop the Oak Ridge Mall.
In a 7-0 voice vote, the Anderson County Operations Committee recommended the tax increment financing, or TIF, to the full Anderson County Commission during a Monday evening meeting.
The TIF could last 20 years, and it would allow new property tax revenues generated at the site to be used to help pay for development costs. It’s already been unanimously endorsed by the Oak Ridge Industrial Development Board. [Read more…]