One item on the April city council's upcoming agenda will consider an offer to purchase 9.09 acres in the city's industrial park on Wyatt Court off of Woodlawn Road. The offer to purchase the lot is being made by local businessman and developer Butch Smith who already owns the industrial building in front of the property he is proposing to purchase.
The property is priced at $25,000 per acre at a total estimated cost of $227,250. Smith is planning to build a spec building on the property and is proposing to put the purchase funds in escrow and having the cost of the property reduced by $5000 for each new full time job that is generated by the project.
This kind of proposal has been made before to industrial prospects but not previously to a developer. Some additional land remains at the Wyatt Court park, but little of it is usable for industrial purposes because of the slope of the land.
Council will consider the offer and any restrictions to the proposal during the meet set for April 14, 2016. The meeting starts at 6:00 PM in council chambers on the 2nd floor of Crossville city hall.
The link below is to a PDF of the Wyatt Court park showing the proposed purchase
PDF map of Wyatt Court
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