September 6th , 2013 10:00 am Leave a comment

PILOT agreement to move sewer line seen as opening door to additional development

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The Carter County Industrial Development Board approved a payment in lieu of taxes, or PILOT, agreement for the county’s first assisted living facility, which could open the door to more development if it is approved by City Council and the County Commission.

The board approved the agreement granting Ocoee Foundation a partial PILOT for six years in the total amount of $250,000 plus 3.5 percent interest. The foundation requested the payment to recoup costs associated with moving a city sewer line so construction on the facility can begin.

The Ocoee Foundation plans to build an assisted living facility next door to the Medical Care office on West Elk Avenue. The project is expected to require close to a $5 million investment and will create 35 new jobs. The owners of the assisted living facility also own Hillview Health Center and Hermitage Health Center.

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