TVA Board Approves Sale of Property Easement for Hotel Complex
June 11, 2002
MUSCLE SHOALS, Ala. — The TVA Board has approved selling a permanent easement for 12.8 acres of land on the Wilson Dam Reservation to the Public Park Authority of the Shoals for construction of a hotel and convention center.
“The TVA Board is pleased to make this property available for a truly exciting project that will create jobs and significantly enhance commercial and economic development of the entire Shoals region,” TVA Chairman Glenn McCullough Jr. said. “Consistent with our strategic objective of sustainable economic development in the Tennessee Valley, TVA is committed to supporting this project and future economic development efforts in the Shoals.”
TVA negotiated the sale price of the permanent easement with members of the PPA, based on the fair-market value of the land and TVA administrative costs. PPA agreed to pay $550,000 to TVA.
“The Board is proud of the collaborative efforts of community leaders who worked closely with the TVA staff to move this project forward,” said TVA Director Skila Harris. “We are pleased that the proposed development will have no adverse impacts on TVA operations and that all environmental reviews were completed.”
“Anytime TVA can partner with a local community to generate this level of capital investment in economic growth of the area, it is a win-win situation for all concerned,” said TVA Director Bill Baxter.
TVA is the nation’s largest public power producer, and its power system is self-financed. TVA provides power to large industries and 158 power distributors that serve 8.3 million consumers in seven southeastern states.
Media Contact:
John Moulton, Knoxville (865-632-8048 or 632-6000)
