Hamilton County is scouting the McDonald Farm in Sale Creek, Tennessee, for its next industrial park development.
Officials are in the preliminary stages of assessing the 2,100-acre property, which has been in the same family for more than 200 years, for an Enterprise South-like development in the northern part of the county.
"We're pretty hot when it comes to people looking to come here," County Mayor Jim Coppinger said Sunday, noting a steady stream of companies looking to come to Hamilton County.
"We've been looking for something for a few years and specifically looking at [this property] for a year or two," he said. "We've told the family if they decide to sell we may be able to work something out."
McDonald Farm is held by family members of the late Roy McDonald, founder of the Chattanooga News-Free Press (now the Times Free Press.)
Coppinger said industrial park developments are the best way to be competitive in attracting private companies and that this property is the frontrunner.
The property - which is mostly in Hamilton County but extends partially into Rhea County - has all utilities available except for sewer, a number of "usable" sites and rail, which Coppinger says is a rare but appealing combination.
"It seems like a great option for the county and the family, and it would definitely mean growth for both counties," he said. "But it's very early and we need to do our due diligence."
Coppinger is working on a resolution to go before the county commission in the next couple of weeks to fund an appraisal and geotechnical assessment of the property.
"We obviously haven't had any price negotiations yet because there hasn't been any appraisal," he said. "We'd be looking to buy the whole property, but we need to do the steps to look at what's usable and what it needs before that could happen."
"But it would certainly be several million dollars."
Roy Exum, grandson of Roy McDonald and an heir to the property, said the family intends to sell it, but there are five family trusts that must come to an agreement on any sale.
"We are 100% on board to sell, and we know there's something going on with the county," he said Sunday. "But it has to be above board with each trust the whole way.
"But if Jim Coppinger wanted to come and do geotechnical stuff tomorrow, I'd say go right ahead."
With no recent appraisal, the market value of the total property is unclear.
Contact Sarah Grace Taylor at 423-757-6416 or staylor@timesfreepress.com or on Twitter @_SarahGTaylor.