Update: IDB votes to sell Bryant Lane property
Friday, January 4, 2013 9:58 am
By MIKE WEST/Courier Editor
Members of the Cannon County Industrial Development Board voted Thursday night (Jan. 3) to proceed with plans to sell a building at 475 Bryant Lane.
Board members Randall Reid, Dean More and Neal Appelbaum were named to a committee to get the building on the market immediately for sale on a cash only basis.
Cumberland Plastics Corporation had approached the board with an offer to either buy or rent the structure to handle a contract with Nissan Motor Manufacturing USA.
"We will either rent or buy it or rent to buy," said David Stanford, a CPC representative. "We need a building to get into."
CPC is the second firm to recently approach the county about the Bryant Lane structure. The first firm, a tool and die company, turned the offer down.
In mid December, the county was contacted by CPC president Sekhar Reddy about the building.
"We estimate very conservatively that this project will create seven jobs in the short term and more in the long term," said Reddy in a letter.
CPC already owns two buildings in Woodbury and pays property taxes on
CPC's offer to purchase the building put the IDB in a dilemma.
"If we can sell the building, we are better off," said IDB member Corey Davenport following a suggestion by Doug Bodary, IDB vice chairman.
Bodary suggested that the Cannon board should follow Rutherford County's model and get out of the rental business by selling its property.
"I don't want any citizen to come forward and say you have five companies interested in this building," Davenport said.
Chairman Reid suggested that the IDB form a committee to quickly get the building on the market. That suggestion was put into the form of a motion and passed by the board.
In other action, the IDB discussed plans to sell 47 acres of industrial park property.
"Dean (More) and I talked to the mayor about the possibility of selling the property behind the dump," said Reid. "I think we need to sell it to the highest bidder."
A committee was then appointed to meet and determine a proper asking price for the land.
Town of Woodbury water tower.