Announced in April of this year, Love’s Travel Stop and Country Stores is expected to finalize it’s purchase of Knox County land no sooner than January 2016.
Knoxville Attorney Rob McCoy tells WGIL that Love’s is holding off on the purchase until the truck stop chain is closer to construction.
“The final swap of paper, swap of deeds won’t happen until January for that reason,” says McCoy. “It’s my understanding that there is no problem with the project, it is all going as planned. It’s just that they don’t want to rush the closing process, when they aren’t able to construct until springtime anyway. ”
The estimated $14 million facility will will be built just off Interstate 74 near Knoxville on a plot of land currently owned by Knox County.
Knoxville plans to annex the land once Love’s finalizes its purchase.
Also announced during last night’s regular council meeting was a $15,000 update to Knoxville’s sewer and water schematics. Aldermen Kirk Heller and Ed Mahar said the updates were part of routine upkeep.
The new schematic expenditure was unanimously approved.
Prior to the meeting, Steve Kline, President and CEO of the Economic Development Group, discussed tax increment financing grants in Knoxville.
Kline credited Knoxville’s use of TIF grants for attracting the city’s Dollar General store in 2004 and, most recently, Petersen Health Care.
