Just last Friday I ran a story I had actually
written several weeks ago pertaining to LCUB bailing out the city on
the vacant property on Broadway. The property had originally been
purchased by the city for a future city hall. The city has poured
more than two million dollars into the property but now plans to
sell it to LCUB for $950,000.00 according to the article below.
City Sells Property to LCUB
Closes on new city building purchase
Lenoir City Council made a few more property transfers Friday after
purchasing the $720,000 SunTrust Bank building that will serve as
the new city hall.
The city sold vacant downtown land to the Lenoir City Utilities
Board during a joint board meeting Friday between council and he
The 2.7 acres, located at Broadway and Hill streets, comes at a
$950,000 price tag.
Mayor Tony Aikens said LCUB plans to build administrative offices on
the property. While a date has yet to be set, Aikens said the next
step would be feasibility study.
From there, Aikens said the city will see "exactly what our needs
are and what's going to last Lenoir City for a long time, as far as
Lenoir City Utilities go."
"I think it's smart on our part, business wise, to offer that to the
utilities because we know in the future we're going to have to do
something for the utilities to have office building or office space
because they're crowded and there's leaks in the roofs," Councilman
Eddie Simpson said. "We just have some major issues there with that
(current LCUB) building." Other board member expressed concerns with
LCUB's current office space.
"I can't remember, but I believe the utility building was built in
the '60s, if I'm not mistaken," Councilman Harry Wampler said. "I
don't see how we've managed to stay where we're at with the space
over the years. We really need to take a ... feasibility study and
see what we need to do to where we can work together better than
what we're doing."
Aikens agreed with Wampler and expressed concerns with the current
"We're out of space there, as well as here, and also it may have
some potential health issues, too, as far as asbestos," Aikens said.
The mayor still plans for city offices to start moving the current
SunTrust Bank building by the first of the year.
Council and LCUB also discussed and approved a resolution to
authorize the issue of a capital outlay debt, not to exceed $10
million, to fianance electrical expenditures.
"We're not going to be using that money, but we do need that money
in reserve for our operations. It is every intent, looking at the
budget, within these three years, and probably sooner, we're still
going to be a debt-free operation, but we need money available to
keep our capital needs funded," LCUB General Manager Shannon
Littleton said, mentioning capital needs are "very, very big right
"We want to continue to fund those projects that we have slated,"
The resolution was requested by LCUB.