Members of the East Ridge City Council have unanimously approved a development agreement with Easy Auto Powersports for a project in the city’s Border Region Retail Tourism Development District.
The city now has more than a dozen development agreements with retail and hotel properties in the zone, which was approved by the Tennessee General Assembly in 2012.
Within the zone, which comprises most of East Ridge, developers approved for the program can recover the capital cost of improvements made on their site by receiving a portion of the state sales tax revenue increases generated by the improvements.
The city’s industrial development board unanimously voted Aug. 15 to recommend an incentive agreement with Easy Auto Powersports with a 60-40 revenue split, with 60% going to the developer and 40% to the city. The city council approved the deal Thursday.