Staff photo by John Rawlston/Chattanooga Times Free Press –
The City of East Ridge has purchased this building, formerly the site of the Hungry Fisherman restaurant, and the 19-acre tract of land it is located on. East Ridge Flea Market owner said the Community Trust and Banking Company favored the city in the transaction and did not give him a chance to make a higher bid for the property.An attorney representing a Chattanooga businessman says Community Trust and Banking Co. discriminated against his client and favored the East Ridge City Council in a recent land deal.
“Why the bank felt they had to keep these negotiations secret is a mystery,” Phil Lawrence said last week.
Officials at Community Trust and Banking Co. declined to comment. Ken DeFoor, one of the bank’s prominent shareholders, would not speak on the record for this story.
On Dec. 6, the East Ridge City Council debated 13 minutes before voting to buy 19 foreclosed acres for $340,000, not including environmental tests, structural inspections, utility repairs and soil examination. The meeting occurred three days after officials announced its time and date in the bottom-right corner of the city’s website.
Businessman C.H. Chen wonders about what happened behind the scenes. He owns the East Ridge Flea Market, a few hundred feet from the property in question. Chen said he wanted to demolish the building and pave a parking lot for his business.