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Chattanooga IDB ratifies easement agreement to avert $56,000-per-day damages in HomeServe pilot
Summary
The Industrial Development Board of Chattanooga voted to ratify a work letter agreement securing a permanent sanitary sewer easement and temporary construction easement for a HomeServe USA pilot, a step staff said avoided a $56,000-per-day liquidated damages exposure.
The Industrial Development Board of Chattanooga on a voice vote ratified the chair's execution of an exhibit B work letter agreement to secure a permanent sanitary sewer easement and a temporary construction easement for a HomeServe USA pilot project.
Speaker 4 told the board the work letter agreement was signed at the request of the city attorney’s office to "cut off a liquidated damage claim of $56,000 per day" that could have accrued if an easement were not permitted. According to Speaker 4, staff hurried a temporary construction easement to remove that exposure and allow the pilot to proceed.
Speaker 4 made the motion to ratify the agreement; Speaker 2 seconded. Chair (Speaker 1) called for the vote and members responded in the affirmative. The motion passed by voice vote.
The board record does not show additional conditions or amendments to the chair’s previously executed agreement. Staff did not read the full agreement into the record; the board relied on the city attorney’s request and staff explanation as presented. The item was presented as a ratification of an already-executed work letter agreement rather than a new contract requiring lengthy negotiation.
The board moved on to its next agenda items after the vote; no public comment on the HomeServe item was recorded.
