IDB approves up to $700,000 to buy Hamilton Acres parcel for E2I2 wastewater project access

The Industrial Development Board approved a resolution Monday authorizing acquisition of real property at 7218 Hamilton Acres Circle, Chattanooga (tax parcel 139PC007.04) for use in connection with the City of Chattanooga Wastewater Department's E2I2 project. The board approved a “not to exceed” amount of $700,000 to cover the purchase, closing costs and other necessary fees. The stated purchase price in the presentation was $580,000; remaining funds are to cover closing and any reasonable unanticipated costs. City Church (associated with Lee Howey in the meeting record) was identified as the seller. City staff explained the parcel will be used as a permanent access point to a tank site associated with the E2I2 project. The board previously approved a smaller easement-related payment; this action purchases the whole parcel after the seller declined to sell an access easement alone. A motion to approve the resolution passed by voice vote with an affirmative aye from the board. The board delegated standard closing responsibilities to staff; no roll-call vote or recorded individual tallies were provided in the transcript. Staff said the parcel may later be transferred to the city and any portion not required for the project could be sold through an RFP after project completion.