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Hamilton County financing for M.L. King extension

A Tennessee Riverpark sign hangs from the fence alongside West Ninth Street, which currently leads to the Blue Goose Hallow trailhead, Thursday, Jan. 4, 2018 in Chattanooga, Tenn. An expansion is planned for M.L. King Boulevard that will cross Riverfront Parkway to the Blue Goose Hallow trailhead, which will take the place of West Ninth Street.
A Tennessee Riverpark sign hangs from the fence alongside West Ninth Street, which currently leads to the Blue Goose Hallow trailhead, Thursday, Jan. 4, 2018 in Chattanooga, Tenn. An expansion is planned for M.L. King Boulevard that will cross Riverfront Parkway to the Blue Goose Hallow trailhead, which will take the place of West Ninth Street. A Tennessee Riverpark sign hangs from the fence alongside West Ninth Street, which currently leads to the Blue Goose Hallow trailhead, Thursday, Jan. 4, 2018 in Chattanooga, Tenn. An expansion is planned for M.L. King Boulevard that will cross Riverfront Parkway to the Blue Goose Hallow trailhead, which will take the place of West Ninth Street.

By Staff Report 6 min read

Hamilton County commissioners on Wednesday approved a property tax incentive for the M.L. King Boulevard extension that will form a $3.5 million gateway to the Tennessee River at Cameron Harbor.

The county joined the city to grant tax increment financing to

Hamilton County commissioners on Wednesday approved a property tax incentive for the M.L. King Boulevard extension that will form a $3.5 million gateway to the Tennessee River at Cameron Harbor.

The county joined the city to grant tax increment financing to extend M.L. King across Riverfront Parkway and create a dramatic entryway to the Blue Goose Hollow trailhead on the Tennessee Riverwalk.

The developer, Evergreen Real Estate, will be able to use a share of property tax money from four properties to pay off a construction loan for the road. The total cost, including interest, is expected to be around $5.2 million.