From The Budget Committee Meeting This Morning
Item One:
It was announced this morning than a new $11,725,000.00 development will begin soon at the corner of Highway 64 and the By-pass, in the area behind the Bank of Frankewing and to the side and behind Walmart. The development will include a Hampton Inn Motel, and a Sports Bar Restaurant among several retail outlets. The developer, David Hunt, is in the midst of a project in Fayetteville, Tn. and has scheduled this project to start as soon as that one is in the dry.
The developer is asking for Tax Increment Financing from the city/county. This is not a new program and is used in many places thus enabling local development officials to collect the property tax revenue from the increased assessments of that property to pay for it. Basically instead of the increased property tax money being paid to the city/county general funds it's paid for the project for the designated number of years, in this case 15 years was mentioned. This allows the city/county to have no financial investment or obligation to the project while enjoying the benefits from increased sales taxes and employment. It's a win win for the developer and for the community.
Item Two:
It was reported that state auditors had examined the current water project at the interstate and decided that it is "unlike any other project in the state". They have decided, apparently due to more time than activities that the project must be ,moved from a "Capitol Project Fund" to a "State Agency Fund". As I said more time on their hands than activities to keep them busy.
It was announced this morning than a new $11,725,000.00 development will begin soon at the corner of Highway 64 and the By-pass, in the area behind the Bank of Frankewing and to the side and behind Walmart. The development will include a Hampton Inn Motel, and a Sports Bar Restaurant among several retail outlets. The developer, David Hunt, is in the midst of a project in Fayetteville, Tn. and has scheduled this project to start as soon as that one is in the dry.
The developer is asking for Tax Increment Financing from the city/county. This is not a new program and is used in many places thus enabling local development officials to collect the property tax revenue from the increased assessments of that property to pay for it. Basically instead of the increased property tax money being paid to the city/county general funds it's paid for the project for the designated number of years, in this case 15 years was mentioned. This allows the city/county to have no financial investment or obligation to the project while enjoying the benefits from increased sales taxes and employment. It's a win win for the developer and for the community.
Item Two:
It was reported that state auditors had examined the current water project at the interstate and decided that it is "unlike any other project in the state". They have decided, apparently due to more time than activities that the project must be ,moved from a "Capitol Project Fund" to a "State Agency Fund". As I said more time on their hands than activities to keep them busy.
posted by Allen Barrett | 4:03 PM
10 Comments:
What is the reason for a Hampton Inn and another mini mall. Fill all the empty bldg. in Giles County first. No big thing that has occurred. More jobs for hispanics to build and then clean. And Indians to own and run.
You are the typical attitude of a competing business in this town. Competition is not a bad thing. We need growth for our county and city to look attractive to prospective newcomers, manufacturing and other businesses. We have no choices for eating and entertainment. The "empty" buildings in this town are not sufficient. Don't be a sour puss. Your attitude is partially what keeps this town from prospering. Comfort Inn is the only decent hotel for anyone to stay in from out of town if traveling on business or to visit relatives who may be graduating from MMC, wedding or other gathering. I know this well, as I am a business owner in this town and my clients who visit our community don't have a choice if the only decent hotel is booked. I don't know where you have gotten your information but you are very misinformed. Stop being so negative.
11:39 What's wrong with Richland Inn, do you know something I don't?
I have not stayed at Richland Inn but it looks so delapidated that I would not recommend to to anyone. If sit at Legend's at look at the building it looks awful.
Richland Inn is not a new or updated hotel. They do not have the amenities that Comfort Inn does. My clients have stayed there in the past and prefer Comfort Inn. As I have heard other businesses say their clients traveling here prefer the Comfort Inn. There is nothing wrong with having options. It is about time we got a another hotel.
Another hotel would be nice but I would want one in town not at the interstate.
Still traveling people going farther on might like one near the interstate.
What shall we call this trouble making group that is against Richland Inn?
MMC Student Askes 6:29
Wher did you get the idea that the Hampton Inn is to be at the Interstate?????
It is being developed at the BY-PASS next to Wal-Mart.
Also I prefer to Richland Inn because of the service and the owner. John has always provided superior service. He also spends more time than all of us combined working for the citizens of Giles County and the City of Pulaski.
Look into who owns that land they're talking about putting this on....I believe findings will show same person that is not giving a price on land at the interstate for the waterplant.....funny how after all this testing an drilling = money spent, we still dont even have a price on it. But at least this sale of land is between a private party instead of taxpayers.
Wow things got quIet after that last post.
7:23 Who owns the land?
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