Cookeville council authorizes steps to enforce repurchase clause for undeveloped parcels in Highlands Business Park

Cookeville — The Cookeville City Council on May 1 authorized staff to take necessary steps to enforce Article 9 of the Highlands Business Park covenants to repurchase parcels sold but not developed and to seek partial reimbursement from Putnam County.

Mister Mills, a city staff member, explained that the covenants for the Highlands Business Park give the developer—identified in the covenants as the city and the county—the right to repurchase lots if construction has not begun in good faith within one year of a sales contract. Mills read portions of the covenant language on the record, including the clause that if “after the expiration of 1 year from the date of execution of a sales contract agreement, any purchaser who shall not have begun in good faith the construction of any acceptable building upon said parcel…the developer retains the right to refund the purchase price for the lot less any costs incurred by the developer…and enter into possession of the land.”

Mills told the council there are three parcels in the Highlands Business Park sold more than one year ago with no acceptable construction initiated; one was sold three years ago and two were sold two years ago. He asked for authorization to repurchase the properties under Article 9 and to seek partial reimbursement from Putnam County for purchases where county participation exists.

A council member commented that the intent is to encourage development, not to “grab land back,” and Mills said the city had disposed parcels at discounted prices for economic development and wants to protect that public investment. Councilman Baji moved to authorize staff to pursue enforcement steps; Vice Mayor Eldridge seconded. The motion passed 5-0.

The action authorizes staff to proceed with repurchase negotiations and any required administrative steps; staff said they would seek county reimbursement where appropriate.