Hamilton county yesterday gave a green light to developing Black Creek Mountain.
The project on Aetna Mountain could eventually consist of 1300 homes, an office park and a resort.
County commissioners are calling it a win-win deal for taxpayers.
But not everyone is happy.
Doug Stein is the developer of the Black Creek Mountain project.
He asked and received approval this week from county commissioners to use Tax Increment Financing to build the main road to the top of Etna Mountain.
TIF funding means selling bonds to build the road, with the developer later paying off the bond, while creating tax revenue for local government.
COMMISSIONER JOE GRAHAM, DISTRICT 6 "... The tax revenue ..Once we get the road paid-for that 6-million dollars is going to go into our general fund..its going to pay for schools, the roads, the judges, the jails."
DOUGLASS STEIN, DEVELOPER "This development is the most comprehensively designed, thought out, development up on top of the mountain."
The plans for the development don't satisfy all property owners in the area.
Jeff and Steven Perlaky, who own and operate Raccoon Mountain Campground and Caves also own 750 acres near the Black Creek Development.
JEFF PERLAKY, CO-OWNER RACCOON MOUNTAIN CAVERNS "My only interest with the fight on Etna Mountain Road is being able to access my property."
He says security guards won't let him through.
Steven Perlaky, meanwhile, says he's concerned about the ecological future of the caves.
DOUGLASS STEIN "We're not going to be altering the watershed hardly at all, due to a lot of the new sustainable sites."
DR. STEVEN PERLAKY, CO-OWNER RACCOON MOUNTAIN CAVERNS "....What if they go bankrupt..where's out access to the mountain..how's this going to affect our taxes?."
DOUGLASS STEIN "The value of the land goes up, so if the complaint is we're making the land more valuable...I would plead guilty to that."
JOE GRAHAM "After I've explained it, I can't think of one person that was against it."
Douglass Stein says his company is donating the property directly over the Perlacky's cave to a land trust.
As for the TIF agreement, the developer will still have to get approval from Chattanooga city council.
