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Record of Proceedings

Chattanooga IDB Meeting - October 6, 2025: Chair Election, Northgate TIF, and North River Commerce Center EIP Amendment

City Council & City Boards — Monday, October 6, 2025
BodyChattanooga, Tennessee
SessionCity Council & City Boards
DateMonday, October 6, 2025
StatusFILED
Video Record
0:00 / 1:31:22

Original source
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5:00

Get started here.

5:02

Our first order of business is to elect a new chair of the IDB.

5:07

Our um chair former chair, Carrie Hayes has moved to Nashville.

5:13

So we will begin the meeting with the election of a new chair.

5:19

There's no Madam Cairn.

5:25

But under the circumstances and looking at the bylaws, it looks to me like it could be either we elect a new chair person or you step up as the current vice chair.

5:36

And we elect a replacement for you as vice chair.

5:41

I've made city attorney aware of uh my point or concern there, so I'll defer to him what he thinks.

5:49

But I think the bylaws are unclear feel.

5:52

Well, I I think it's up to this body, and this body uh by vote can elect uh at least uh uh a chair for this position.

6:00

If your vice chair becomes uh chair, then there's an opening for the vice chair spot.

6:05

Uh there is also uh I guess we gotta make sure if you want to have any other uh appointments at this point in time if there were just a move up type situation, that could also be a situation where you might need to have a new uh uh guess assistant secretary if everybody moved up in position.

6:24

So that that's up to this body to decide in this meeting, and that's why I thought it needed to be one of the things early on your agenda.

6:31

Okay, I'd like to nominate you, Thea Jones for the position of chair.

6:40

Can I do that?

6:41

Yes, you can.

6:42

Okay.

6:42

There is a nomination on the floor for um myself, Althea Jones to be chair.

6:47

Is there I'll second that a second?

6:51

There is a a second, any discussion.

6:56

All those in favor say aye.

6:58

Aye.

6:58

Opposed.

7:00

All right.

7:01

Okay.

7:02

So with that, we need to um elect a new vice chair.

7:07

Yes.

7:07

Okay.

7:08

So um at this point we'll um elect a new vice chair.

7:12

Are there any nominations for vice chair?

7:15

I nominate Gordon Parker.

7:17

I second that.

7:21

Any discussion there?

7:24

All those in favor for Gordon Parker as vice chair?

7:27

Say aye.

7:28

Aye.

7:29

Any opposed?

7:30

Okay, well, Gordon will be vice chair.

7:34

So then we need um a secretary.

7:37

See, my way was um are there any nominations for secretary?

7:47

Our current secant secretary, Jim Floyd, right?

7:50

Yes.

7:50

Jim, would you be willing to serve if you step up?

7:55

I nominate Jim Floyd.

7:57

Is there a second?

7:58

Thank you.

7:59

Any discussion?

8:01

All those in favor of Jim Floyd being secretary, say aye.

8:06

Aye.

8:07

Any opposed.

8:09

Okay, Jim.

8:11

The secretary.

8:13

And finally, uh an assistant secretary.

8:17

So are there any um nominations for assistant secretary?

8:25

Not you.

8:27

Sure.

8:28

Okay, I nominate Nadia.

8:30

Is there a second for Nadia?

8:32

Second.

8:33

All those in favor for Nadia, Assistant Secretary.

Discussion Breakdown — Share of Meeting
Tax Increment Financing██████████████████████████████30%
Economic Development███████████████████████23%
Procedural███████████████15%
Public Works█████████████13%
Public Private Partnership████████8%
Public Finance████4%
Budget Equity Analysis███3%
Public Engagement██2%
Procurement██2%
Summary of Proceedings

Chattanooga Industrial Development Board Meeting - October 6, 2025

The Chattanooga Industrial Development Board (IDB) met on October 6, 2025, at approximately 9:00 AM to elect new officers, review and act on several incentive and financing items, including the Northgate Mall TIF application and an amendment to the North River Commerce Center Economic Impact Plan (EIP). The meeting included a public comment period, quarterly finance reports, and various administrative resolutions.

Consent Calendar

  • Minutes Approval: The board unanimously approved the minutes from the August 4, 2025 meeting by voice vote.

Public Comments & Testimony

  • Helen Byrne Sharp (Accountability for Taxpayer Money) spoke during the public comment period regarding the Northgate TIF application. She raised two concerns: (1) whether state law allows the use of sales tax revenues in a TIF for this project (she noted staff cited state law but argued a written legal opinion from an expert is needed), and (2) the need for an independent third-party review, as required by the IDB's own TIF policies, before proceeding with the application. She suggested the board could consider a continuance to allow time for those opinions.

Discussion Items

  • Election of Officers: Following the resignation of former chair Carrie Hayes, the board elected Althea Jones as Chair (motion by a member, seconded, all ayes). Subsequently, Gordon Parker was elected Vice Chair, Jim Floyd as Secretary, and Nadia as Assistant Secretary (each by voice vote with seconds and no opposition).
  • Quarterly Finance Report: Eleanor Liu presented the finance report. Key points:
    • BW Grant: 99.0% spent/encumbered (unchanged from July).
    • IDB Economic Development Program Summary: remaining balance of $2,045,000, including a $588,000 transfer from CNE small business funds completed August 15, 2025.
    • TIF report: unchanged from July.
    • Wastewater Program (E2I2 and SPOI): $33 million spent to date, fully reimbursed by city. Also noted a correction to a prior period adjustment label (changed from 'prior period adjustment' to 'error correction') per state controller letter, to be reflected in FY25 financial statements.
  • Northgate Mall TIF Application: Sharita Allen (Senior Advisor for Economic and Workforce Development) presented a staff report recommending acceptance of the application. The presentation covered the need for infrastructure upgrades (public sewer/stormwater flowing into a private system), the decline in property and sales tax values (property taxes dropped from $1.1M in 2017 to $575,000 in 2024, a nearly 50% decline), and the proposed 20-year TIF using property tax and local option sales tax increments from new development. The developer, John Michelle (CBL Properties), emphasized that CBL would fund improvements upfront and assume all risk, with repayment from new tax revenue generated by redevelopment. Key discussion points:
    • The board discussed the Northgate Mall Drive loop road (privately owned) and the need for its potential transfer to the city as part of the project.
    • Legal counsel (Betsy Knotts) confirmed that a third-party review is being arranged with Water Street Public Finance Group for the independent review required by November 3, 2025, when the EIP will be presented. She also stated a legal opinion on using sales tax (under T.C.A. 7-53-315) has been drafted, citing authority for jurisdictions with central business improvement districts.
    • The resolution originally included a waiver of the third-party review, but since city council denied that waiver (on September 30, 2025), the board agreed to strike that provision. The resolution as amended passed unanimously.
  • North River Commerce Center EIP Amendment: Winston Brooks (Economic Development Director) presented a public hearing for an amendment to the existing EIP. The amendment broadens the scope of uses from industrial distribution only to include other commercial uses (excluding hotels, retail, gas stations, vape shops), extends the construction completion deadline from December 31, 2026, to December 31, 2031 (the 20-year TIF term remains unchanged), and adds a $100 million capital investment performance requirement to the existing 800,000 square feet requirement. The developer (Mr. Phillips) highlighted that Building 100 is fully occupied, $50 million invested in Class A industrial space, and jobs are ahead of schedule. No public speakers opposed; Helen Byrne Sharp expressed support. The board voted unanimously to approve the amendment (motion, second, voice vote).
  • Other Administrative Items:
    • High-Growth High-Jobs Grant (Master Machine): A clerical amendment to correct the wage amount in the definition section to match the higher wage ($2,330 previously referenced). No vote required, reported to board.
    • Bridge COVID-19 Revolving Loan Fund: Resolution authorizing the chair/vice chair to execute a letter requesting return of approximately $358,000 from the Southeast Tennessee Development District to the IDB fund. Approved unanimously.
    • Southern Champion Trade PILOT Termination: Resolution to convey property back to Southern Champion Trade after the PILOT term ended. Approved unanimously.
    • E2I2 Project Easement Ratification: Resolution ratifying the vice chair's previous signing of a sanitary sewer easement with VTR Shallerford LLC. Approved unanimously.
  • Chamber of Commerce Site Selector Analysis Update: The IDB committed up to $70,000 for a funding match; final invoice was $60,000, so the IDB retains $10,000. Noted for information.

Key Outcomes

  • Officers Elected: Althea Jones (Chair), Gordon Parker (Vice Chair), Jim Floyd (Secretary), Nadia (Assistant Secretary).
  • Minutes Approved: Minutes of August 4, 2025, approved unanimously.
  • Northgate TIF Application Accepted: Resolution approved (as amended to strike the third-party review waiver) by voice vote with no opposition. The application is forwarded to the Application Review Committee.
  • Application Review Committee Appointed: Nadia and James were appointed as IDB representatives to the Application Review Committee meeting set for October 20, 2025, 9:30-11:30 AM.
  • North River Commerce Center EIP Amendment Approved: Public hearing held and closed; resolution approved unanimously. The amendment will go to city council on October 28 and final IDB vote on November 3.
  • Bridge Loan Fund Letter Authorized: Chair authorized to sign return of funds request.
  • Southern Champion Trade Property Transfer Approved: Property transferred back to the company.
  • E2I2 Easement Ratified: Past action ratified.
  • New Member Welcomed: Brent, representing District 9, was welcomed to the board.

The meeting adjourned at 12:29 PM.

Meeting Transcript

Get started here. Our first order of business is to elect a new chair of the IDB. Our um chair former chair, Carrie Hayes has moved to Nashville. So we will begin the meeting with the election of a new chair. There's no Madam Cairn. But under the circumstances and looking at the bylaws, it looks to me like it could be either we elect a new chair person or you step up as the current vice chair. And we elect a replacement for you as vice chair. I've made city attorney aware of uh my point or concern there, so I'll defer to him what he thinks. But I think the bylaws are unclear feel. Well, I I think it's up to this body, and this body uh by vote can elect uh at least uh uh a chair for this position. If your vice chair becomes uh chair, then there's an opening for the vice chair spot. Uh there is also uh I guess we gotta make sure if you want to have any other uh appointments at this point in time if there were just a move up type situation, that could also be a situation where you might need to have a new uh uh guess assistant secretary if everybody moved up in position. So that that's up to this body to decide in this meeting, and that's why I thought it needed to be one of the things early on your agenda. Okay, I'd like to nominate you, Thea Jones for the position of chair. Can I do that? Yes, you can. Okay. There is a nomination on the floor for um myself, Althea Jones to be chair. Is there I'll second that a second? There is a a second, any discussion. All those in favor say aye. Aye. Opposed. All right. Okay. So with that, we need to um elect a new vice chair. Yes. Okay. So um at this point we'll um elect a new vice chair. Are there any nominations for vice chair? I nominate Gordon Parker. I second that. Any discussion there? All those in favor for Gordon Parker as vice chair? Say aye. Aye. Any opposed? Okay, well, Gordon will be vice chair. So then we need um a secretary. See, my way was um are there any nominations for secretary? Our current secant secretary, Jim Floyd, right? Yes. Jim, would you be willing to serve if you step up? I nominate Jim Floyd. Is there a second? Thank you. Any discussion? All those in favor of Jim Floyd being secretary, say aye. Aye. Any opposed.

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