CLEVELAND, Tenn. – The Bradley County Commission approved a payment-in-lieu-of-taxes plan Monday for Amazon.com at exit 33 on Interstate 75.
Commissioners also learned that the total investment will be less than originally estimated.
“They are finding out construction costs less in the Southeast than it does out West,” said Doug Berry, vice president for economic development for the Cleveland/Bradley Chamber of Commerce.
Instead of the $63 million investment originally estimated, the total is now $48.1 million. It reduces the estimated tax revenue to the county from $2.5 million over the 10-year life of the tax plan to $1.8 million, Berry said.
The plan calls for Amazon to pay 50 percent of what would have been its property taxes each year, ending Dec. 31, 2021.
Some residents adjacent to the Amazon site raised objections to rezoning the area from its current forest/agriculture/residential zoning to industrial/commercial.
They are concerned about potential traffic, noise and property values.
The commission voted unanimously in favor of the rezoning, as recommended by the County Planning Commission.
“The land use plan does call for commercial and industrial development in this corridor,” said County Planner Corey Divel.
Berry said he and the developers are willing to discuss traffic signal plans and a separation berm with residents.