Midway Road Industrial Park Knoxville - News
which the Knox County Commission had sent back to MPC to consider designating a parcel at Thorn Grove Pike and Midway Road for a land use consistent with a court ruling that struck down MPC actions involving the proposed Midway business park.
Bank taking back property near Midway | Property Scope | knoxnews.com
Tennessee State Bank submitted the only bid for some 350 acres of land in East Knox County at a foreclosure auction on Thursday.
The property was owned by the family of Harry Sherrod, and located east of Midway Road, on either side of Interstate 40. According to a deed filed with the county, the bank had previously loaned Sherrod and his wife, Pamela, $3 million against the property. The bank submitted a credit bid of $2.6 million at Thursday's auction.
The property is on the opposite side of Midway Road from a site that, until recently, was slated for development as a new business park. In December, county commissioners nixed that idea, and a committee is now working to come up with alternative recommendations for the business park site.
Sherrod had previously drawn scrutiny because of a 2006 land flip in which he bought 49 acres for $675,000 and 17 days later sold most of it to the Development Corporation of Knox County -- which was assembling property for the business park -- for $804,600.
Sherrod has said that he purchased an option on that property long before he sold it to the Development Corporation.
As for the property auctioned Thursday, Sherrod said in an interview that he had tried to develop for years, but his company has closed and has no income to operate. Business Sherrod, Atlas Electric, suspended its local presence in the construction in 2009.
In a written statement Sherrod said that "The farm has been in my family for 51 years has been jeopardized because Atlas needs an infusion of cash to continue to pay my employees dedicated. The board of directors at Atlas were aware and supported the decision to leverage the farm in order to maintain Atlas as a going concern. At present, it will be an uphill climb. But what's done is done and we will move forward to make good on our commitments.
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Midway Road industrial park plan
This was the first of two meetings to gather public input on the portion of the East County Sector Plan dealing with the Midway Road business park development ...
Midway Road Industrial Park | KnoxViews
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Grow Jobs for Knox Now - Stop Midway Road Business Park
Grow jobs for Knox County now by recovering the money being wasted on the Midway Road Business Park project.
Midway Industrial Park Key to Knox's Solar Strategy | KnoxViews
... of the Knoxville Chamber has an interesting spin on Knox County's need for another industrial park at Midway Road. She says that solar companies ...
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Knox Action promotes an action plan to stop government waste of taxpayer dollars on ill-conceived projects so that our scarce resources can be put to better use to ...