By Max Hrenda
Although city and county officials have discussed developing the area around West Elk Avenue in western Elizabethton for several years, a proposal from an incoming investor might help that development finally take flight.
On Monday, the county’s Industrial Development Board approved a request to present an offer for a payment-in-lieu-of-taxes agreement to the Ocoee Foundation, which has expressed interest in opening an assisted-living facility on West Elk Avenue in the vacant lot next to Medical Care.
The PILOT agreement would serve to compensate the Ocoee group for its costs in relocating a sewer line that would impede construction in the 1.4-acre parcel of land in question. While those costs are estimated to bottom out at $250,000, the proposed PILOT agreement would be for the maximum cost projection of $275,000.