Gestamp Chattanooga, LLC needs to re-write PILOT agreement with Chattanooga
Chattanooga, TN (WDEF) – Automotive supplier Gestamp talked PILOT agreements Tuesday at the Chattanooga City Council.
Gestamp originally planned to build in one location but it turns out that property is riddled with sinkholes.
Instead, Gestamp will take over the old Farley’s & Sathers Candy Company on Jersey Pike, a much larger site.
Chattanooga City Council member Larry Grohn explained, "The PILOT had to be re-written to show not only the changes on the site, but the size of the site and the property taxes that were going to be required difference in the property taxes that were going to be required that have to be paid."
The vote has been deferred until next week.
Gestamp originally planned to build in one location but it turns out that property is riddled with sinkholes.
Instead, Gestamp will take over the old Farley’s & Sathers Candy Company on Jersey Pike, a much larger site.
Chattanooga City Council member Larry Grohn explained, "The PILOT had to be re-written to show not only the changes on the site, but the size of the site and the property taxes that were going to be required difference in the property taxes that were going to be required that have to be paid."
The vote has been deferred until next week.
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