THC Select asked to give proof
Tuesday, October 9, 2012 2:47 pm
THC Select has been asked to produce email correspondence on why the company hasn't paid any rent on the building it rents from Cannon County.
Corbett Gibson of THC Select gave a history of the courtship between Cannon County and his company to members of the Cannon County Industrial Development Board. THC Select moved their operations from Waverly to Woodbury back in 2010.
Gibson said that THC Select moved here based on several stipulations including that the Industrial Board offset the move costs. Any improvements made to the building was in lieu of lease.
Gibson said the agreement with the industrial board was made with the county executive acting as a go between. Telephone calls, on-site visits were done with both the members of the then industrial board and county executive.
Other stipulations included a 5 year term with a purchase option at fair market value.
The agreement would com-mence on the start of full production which Gibson’s records indicated February 2011. The move costs were un-derestimated, he said.
In July 2010, an agreement was made that THC Select could move operations without paying
rent for a period of one year. Because there was no official lease
signed, the Industrial Development Board in September put together a 12
Gibson says he and other THC Select officials are willing to
do a lease but not the one that the Board presented. Gibson says that he
would do a lease based on what was agreed to before operations moved to
Woodbury. After being asked at what time would THC Select feel to be
obligated to pay rent. It was then discovered that under the terms of
moving operations to Woodbury THC Select would not have to pay rent until
the investments or credits they made to the building were offset. The
date that officials were looking was sometime in 2013.
The meeting has been recessed until Monday Night October 8th at 7:30 so that Corbett
Gibson can bring in the email correspondence and the Industrial
Development Board can finish dealing with the issues that might arise from
the presented documentation
PC Disposal, another tenant in one of the industrial owned buildings that
hadn't paid rent due to the fact there was no official lease involved
moved out of the building on Bryant Lane.
Officials with PC Disposal acknowledged that September Rent and Electric would be paid by the 1st of
October. As of last night's meeting PC Disposal owes $2000 in back rent
and an electricity bill of $1031.00. A committee was formed comprised of
Doug Bodary, Dean Moore and Neal Applebaum to work on the roof problems on
the building that PC Disposal had just moved out of and the Crane Interior
Neal Appelbaum will check with Carolyn Motley of the Cannon
County Chamber of Commerce to see if there are any concerns in letting the
Industrial Board use the Chamber's phone number as theirs as well. The
Industrial Board office will be located in the Chamber of Commerce office
as they agreed to pay $50 a month for rent.
Since the phone number, address and emails have been established for the Industrial Board, plans
can proceed for the making of a brochure to market to potential industries
that would be willing to locate in Cannon County. A recommendation has
been made to recommend to the County Executive that the Chairman of the
Industrial Board represent the Board on the Upper Cumberland Development
District. Also it was approved for the Chairman of the Industrial Board
to represent the board on the Cannon County Joint Economic Development committee.