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Developers want city taxes to fund Aetna Mountain road

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Illustration by Laura McNutt / Times Free Press Illustration by Laura McNutt / Times Free Press
CHATTANOOGA -

(Times Free Press) - A group of businessmen will pursue taxpayer financing for a $9 million road allowing them to build a $500 million mountaintop development in Chattanooga.

The 3,000-acre Black Creek Mountain development will sit on top of Aetna Mountain and developers want to secure a creative financing mechanism called a TIF, or tax increment financing, to pave their path to the top.

If approved by city and county officials, it would mark the first time that tax increment financing has been successfully used in Chattanooga.

Read more about this story from our news partners at the Chattanooga Times Free Press.

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