The Tellico Village Property Owners Board of Directors made a resounding statement at the Aug. 16 meeting by unanimously passing an agreement that settles a years-long delinquent property dispute between the Village and Loudon County.
Board members Alan Hart and Mike Colacone motioned and seconded, respectively. The vote passed 6-0. Board member Cap Purvis was absent.
The board’s approval puts the final touch on an agreement that was previously approved by Loudon County Commission 10-0 at its July meeting. Both parties have now signed the document.
Bruce Johnson, POA board president, said POA attorney Kevin Stevens will deliver the agreement to the county in the coming days.
“Our side, we look at it that if they go through with the tax sale and then they are transferred to us unencumbered that we will be able to sell these lots and will add about 450-plus lots to our inventory, giving people who would come to Tellico Village a lot better choice of lots that we have available for them,” Johnson said. “On top of that, we believe that we can work toward maybe turning some of the lots into green space, making the Village better for all of our property owners.
“So now the task is on us with our marketing people to go about our business and bring people in here, present these lots to them, hopefully we’ll sell them and then we’ll put houses on them and we’ll continue to grow,” he added.
The POA paid $85,681 in back taxes to the county, bringing more than 400 lots current. Future taxes on the lots will also by paid by the POA as long as they are in the Village group’s possession. Annual taxes on CS Holding and third-party lots will be $40,000, according to a presentation at the POA board meeting.
Hart believes getting the properties current on taxes will make it easier to sell the lots.
“Some of the taxes on these lots are actually higher than probably what the lots are worth and so they just can’t sell so we can’t get homes built on them,” Hart said. “... For the Village it gives us over 400-some lots that we now can market without the burden of the old taxes still on the lot. So the price of a lot now will be the price of the lot, not the price of the lot plus any back taxes owed on it to the county.”
Board members call the agreement a “win-win” for all parties.
“We were able to finally get all the people together, or I should say our president Bruce Johnson and Alan Hart and so did Winston Blazer in the years working up to this,” Claire Frazer, board member, said. “This didn’t happen overnight. There’s a lot of players who did a lot of good work. Our commissioner, Henry Cullen, did a lot of good work for us. We can’t just give credit to one individual because it’s taken a team, and I feel very strongly about that. I think this was definitely a team effort on all sides.
“I think we’ll all be winners for this — the county and Tellico Village,” she added.
An estimated 450 lots will be up for purchase at the Oct. 16 tax sale. Johnson said the amount of lots may change if people purchase them at the sale or if owners bring properties current.
“If people either buy them at the tax sale or if they clear them after the tax sale, then that number will change and we just don’t know what that number will be, but we’ll be ready to operate on whatever number it is,” Johnson said.
In other news, the POA board:
• Approved Wayne Enderle to replace Tom Greene on the Long-Range Planning Advisory Committee. R.J. Sloan replaces Linda Kaump on the Communications and Marketing Advisory Committee.
• Passed four expenditures. Two KSB pumps at the main sewer lift station will cost $58,248 from the Water & Sewer Reserve Fund. Design of the Tanasi Golf Course parking lot and landscape plan will cost $6,980 out of the R&M Reserve Fund. Engineering for a Coyatee water storage tank costs $60,850 from the Water & Sewer Reserve Fund. Purchasing a leaf vacuum machine and collection box will cost $61,444 from the R&M Reserve Fund.
