By Gary Nelson
Senior staff writer
The Cumberland County Commission approved a PILOT (Payment in Lieu of Taxes) program for the Industrial Development Board for CoLinx during its June monthly commission meeting.
The agreement means the company will commit to a multi-million dollar expansion, add roughly 65 jobs and retain more than 700 jobs in the county.
According to resolution 06-2013-16, the county approves the PILOT lease by the board with the company pursuant to which the company is required to make payments in lieu of taxes to the city of Crossville and Cumberland County for a term not to exceed 10 years following the completion of construction of the project.
The resolution authorizes the Industrial Development Board to negotiate a PILOT lease with the company.
The 10-year agreement gives the company a payment plan of no payments for the first four years, 25 percent for the next two years, 50 percent for the following two years and 75 percent for the last two years of the agreement.
The agreement was approved unanimously after a motion was made by 4th District Commissioner Allen Foster. Foster's motion was supported by Sonya Rimmer, 8th District commissioner.
The CoLinx expansion is 210,000 square-foot facility expansion and a $10 million investment by the company.
Charles Seiber, 4th District commissioner and Jeff Brown, 8th District commissioner, did not attend the meeting.