City Council Moves Aetna Mountain Plan Forward
CHATTANOOGA, TN (WRCB) - The Chattanooga City Council voted Tuesday night in favor of moving plans for the controversial Black Creek community forward.
Developers want taxpayers to finance the $9 million road that will lead to a community on top of Aetna Mountain.
Plans call for an office park, an assisted living facility, a resort lodge, a mixed use town center and 1,400 new homes.
Developer Doug Stein wants to secure tax increment financing, or TIF, something that's never been done successfully before in Chattanooga.
"If we do this for this developer, it opens the door to all other developers," said Deborah Scott, who voted against the funding plan.
"The only thing we are doing is deferring the tax increases until the road is paid for," argued Jack Benson, in favor of TIF, "we would have to build the road anyway."
The city council passed the ordinance 5 to 2.
A second, and final, reading is set for next week.