Oak Ridge Today

Second and final state approval granted for Oak Ridge Mall redevelopment

Posted at
By Leave a Comment

Oak Ridge Mall Concept Plan Featured

The site plan for the redevelopment of the Oak Ridge Mall shows a multi-use, town center development with retail, office, hotel, and residential properties. (Submitted image)

The two state approvals required for the $13 million tax financing agreement for the proposed redevelopment of the Oak Ridge Mall have now been granted.

Tennessee Comptroller Justin P. Wilson notified mall redevelopment representatives of his approval in a Feb. 5 letter.

Earlier, in January, the Tennessee Department of Economic and Community Development notified project representatives that it had approved the proposed tax increment financing, or TIF, but would not issue a separate letter.

Under Tennessee law, the comptroller and ECD both had to approve the TIF after considering whether its use is in the state’s best interest. The comptroller said it was in the Feb. 5 letter.

ECD approval was granted in a different manner. In a January e-mail, ECD General Counsel Sharon Kolb said the department had received the request for a “best interest” determination for the Oak Ridge Mall on Dec. 19. Since the department did not approve or deny the request within 30 days, it was deemed approved under the Tax Increment Financing Act, Kolb said. [Read more…]

State comptroller approves $13 million agreement for Oak Ridge Mall

Posted at
By 2 Comments

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…]

JCPenney in Oak Ridge to stay open as 33 stores close across US

Posted at
By 4 Comments

JCPenney at Oak Ridge Mall

JCPenney at the Oak Ridge Mall will stay open as the company closes 33 stores across the United States.

The JCPenney in Oak Ridge will stay open as the retailer closes 33 underperforming stores across the United States.

The list of closures announced Wednesday includes only one Tennessee store, the JCPenney at Northgate Mall in Chattanooga.

The JCPenney in Oak Ridge is at the city’s mostly empty mall, where a $85 million redevelopment has been proposed. Crosland Southeast, the North Carolina company that has had a purchase contract on the mall since January 2013, has said the renovated 59-acre site could open in  2016 and include a mix of retail and office space, a hotel, and up to 50 multi-family residential units, as well as a few restaurants. Belk and JCPenney are expected to stay. [Read more…]

Anderson Commission unanimously approves Oak Ridge Mall TIF, project goes to state

Posted at
By Leave a Comment

Oak Ridge Mall Concept Plan Featured

The Anderson County Commission on Monday unanimously approved a $13 million tax financing agreement that could be used to help the $85 million redevelopment of the mostly empty Oak Ridge Mall.

CLINTON—The Anderson County Commission on Monday unanimously approved a $13 million tax financing agreement that could be used to help the $85 million redevelopment of the mostly empty Oak Ridge Mall.

The vote was 15-0. Anderson County Commissioner Mark Alderson was absent.

“I am extremely optimistic about this,” said Anderson County Commission Vice Chair Robin Biloski, an Oak Ridge resident.

It’s the fifth unanimous or near-unanimous vote on the project in less than a month. The tax increment financing, or TIF, had also been approved with no opposition, but with one abstention, by the Oak Ridge City Council, and it had also been endorsed with no opposition by the Oak Ridge Industrial Development Board and Anderson County budget and operations committees. [Read more…]

Letter: Mall nullification proposal would make TIF loan impossible to finance

Posted at
By Leave a Comment

Oak Ridge Mall TIF Public Hearing

James Murphy, center, is a Nashville attorney representing Oak Ridge Mall redeveloper Crosland Southeast. Also pictured during a recent public hearing are Ray Evans, right, Oak Ridge economic development consultant; and Tim Sittema, a Crosland Southeast partner.

Note: This Nov. 14 e-mail from an attorney representing mall redeveloper Crosland Southeast was written in response to a nullification proposal submitted by Oak Ridge City Council member Trina Baughn to Anderson County officials.

I represent Crosland in connection with the proposed Economic Impact Plan for the Redevelopment of the Oak Ridge Mall Economic Development Area (the “Economic Impact Plan”). The Economic Impact Plan has been approved by the Industrial Development Board of the City of Oak Ridge (the “IDB”) and the City Council for the City of Oak Ridge, and it is on the agenda for the Nov. 18 meeting of the Board of Commissioners of Anderson County. I would like to respond to Ms. Baughn’s suggestion that the tax increment financing (“TIF”) funding for the redevelopment of the Oak Ridge Mall be nullified if at least 65 percent of the planned new retail square footage is not completed by December 2018.

As has been explained by Ray Evans in the meetings of the Anderson County Operations Committee and the Budget Committee, the proposed redevelopment of the Oak Ridge Mall requires a public-private partnership. After carefully reviewing the project’s pro forma, the city officials who have been involved in negotiating the incentives with Crosland were convinced that there was a funding gap of $13 million that could be bridged by the use of the TIF funding. Without that $13 million in TIF funding, the project would not go forward. [Read more…]

Guest column: A successful Oak Ridge Mall project

Posted at
By 1 Comment

Trina Baughn

Trina Baughn

Note: This is a copy of a Nov. 14 e-mail from Oak Ridge City Council member Trina Baughn to Anderson County Commissioners and Mayor Terry Frank.

Honorable Mayor Frank and County Commissioners:

Like you and all of our citizens, I recognize the need for the successful redevelopment of the Oak Ridge Mall property. My research, to include discussions with various city officials and partners from their past projects, has me convinced that if anyone can help us finally turn the mall around, it is Crosland Southeast.

The generation of added sales tax revenue from new retail is our highest priority in this venture. Not only do we desire more shopping options, but the financial health of our community is highly dependent upon new sources of revenue.

No one can guarantee that the anticipated sales tax will materialize nor is it realistic to expect such an assurance. However, there is one guarantee contained within this plan. Once demolition has begun, the terms of the tax increment financing (TIF) will be permanently secured, regardless of whether or not anything is built. The end result will lock in a 20-year freeze on the property tax collected by the city and the county. [Read more…]

Letter: Chamber asks city, county officials to endorse mall TIF

Posted at
By Leave a Comment

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: [Read more…]

Mall TIF sailing through approval process, goes to Oak Ridge City Council tonight

Posted at
By Leave a Comment

Oak Ridge Mall Concept Plan Featured

The proposal to use tax increment financing to help with the $85 million redevelopment of the Oak Ridge Mall, pictured above in a concept plan, has easily sailed through the approval process so far, and the project faces a crucial vote at tonight’s Oak Ridge City Council meeting.

The proposal to use tax increment financing to help with the $85 million redevelopment of the Oak Ridge Mall has easily sailed through the approval process so far, and the project faces a crucial vote at tonight’s Oak Ridge City Council meeting.

The Oak Ridge Industrial Development Board and Anderson County operations and budget committees have already unanimously endorsed the tax increment financing, or TIF. The agreement could be worth $13 million and last 20 years, and it would allow new property tax revenues generated at the site to be used to help pay for development costs.

The redevelopment of the mostly empty mall, where ambitious revamping plans have languished for years, has been proposed by Crosland Southeast, a North Carolina company relatively new to this project. Under the tax financing agreement, new property taxes collected in the TIF district could be used to reimburse Crosland Southeast for certain expenses associated with the project. [Read more…]

Anderson committee recommends tax package for Oak Ridge Mall

Posted at
By 1 Comment

Anderson County Operations Committee

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…]

County committee to consider tax financing for Oak Ridge Mall redevelopment

Posted at
By Leave a Comment

Oak Ridge Mall Concept Plan Featured

The Anderson County Operations Committee will consider the tax financing plan for the $85 million redevelopment of the Oak Ridge Mall during a Monday evening meeting.

The Anderson County Operations Committee will consider the tax financing plan for the $85 million redevelopment of the Oak Ridge Mall during a Monday evening meeting.

The tax financing agreement could be worth $13 million and last 20 years. It would allow new property tax revenues generated at the site to be used to help pay for development costs.

The tax increment financing, or TIF, proposal has already been unanimously endorsed by the Oak Ridge Industrial Development Board.

It will be considered by the Operations Committee in a meeting that starts at 6 p.m. today in Room 312 of the Anderson County Courthouse in Clinton. It will also be considered at 4 p.m. Thursday by the Anderson County Budget Committee; at 7 p.m. Monday, Nov. 11, by the Oak Ridge City Council; and at 6:30 p.m. Monday, Nov. 18, by the Anderson County Commission. [Read more…]

Guest column: Diversity in proximity—an aesthetic approach to urban architecture

Posted at
By 5 Comments

I’m very glad there is positive forward movement on redevelopment of the Oak Ridge Mall. However, I feel that the current layout proposed will fall far short of the ideal design, one that will best do what Oak Ridge wants it to.

I recently returned from my honeymoon through the Carolinas and Georgia, and along the way it dawned on me precisely what elements are in play regarding our gut “feelings” about downtown shopping, dining, and nightlife architecture—what makes one place more appealing than another. [Read more…]

IDB has public hearing, special meeting to consider mall plan Thursday

Posted at
By 3 Comments

Oak Ridge Mall Master Plan

A city board will have a public hearing and special meeting Thursday to consider a tax financing agreement for the $80 million redevelopment of the Oak Ridge Mall. (Submitted image)

A city board will have a public hearing and special meeting Thursday to consider a tax financing agreement for the $80 million redevelopment of the Oak Ridge Mall.

The public hearing starts at 5 p.m. Thursday in the Oak Ridge Municipal Building Courtroom. It will include a presentation by Crosland Southeast, the North Carolina company that has a purchase contract on the mall and has proposed redeveloping it. The public hearing will also include public comments.

The Oak Ridge Industrial Development Board will have a special meeting after the public hearing to consider approving the tax increment financing, or TIF, agreement, which could be recommended to Oak Ridge City Council and Anderson County Commission. [Read more…]