KINGSTON—The Tennessee Valley Authority has retained J.P. King Auction Company to sell waterfront properties that the public utility bought during the cleanup after the December 2008 ash spill in Kingston.
The properties will be sold at a public auction at 11 a.m. Saturday, July 25, on site rain or shine.
The TVA Board approved the auction company’s proposal to conduct a portfolio auction of 62 properties, up to 19 waterfront properties, four water view homes, and 39 waterfront lots, a press release said. The properties will be sold without reserve at absolute auction, meaning all properties will be sold to the highest bidders, regardless of price, the release said.
Following the 2008 Kingston ash spill, TVA committed to restoring the area to as good as or better than it was before the spill. The first two years of the recovery project required 24/7 operation of heavy equipment on land and in the Emory River. The sounds of the heavy equipment and the lights needed to support night time activities were audible and visible to nearby property owners. Therefore, TVA purchased these properties along Emory River Road, the press release said. [Read more…]