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Cookeville council approves sale of Highlands Business Park parcel to Hollingsworth Company
Summary
The council authorized sale of approximately 27.4 acres in Highlands Business Park to Hollingsworth Company for an estimated $1.05 million; staff said the project could bring about $40 million in investment and about 168 new jobs, subject to county approval and performance clawbacks.
Cookeville’s City Council voted unanimously May 7 to approve the sale of Lot C in the Highlands Business Park to Hollingsworth Company and authorized the city manager to execute the purchase-sale agreement.
Ward, a community development staff member, told the council the property consists of roughly 27.4 acres and staff recommended selling it at $38,500 per acre for an estimated total of $1,054,900 pending final survey. Ward said Hollingsworth proposes a project that would include…
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