CUMBERLAND COUNTY – The Crossville city council approved a 120-day option extension for Project Enterprise, an unknown industrial prospect looking to locate in the city’s Interchange Business Park off Highway 127 North.
The council originally approved a 60-day option for Project Enterprise on 18.59 acres on Interchange Drive in August. That option expired Oct. 11, but Enterprise requested an additional 120 days to complete its due diligence at the site.
Per the original contract, the purchase price for the land is $465,000, but that amount will be completely abated if Project Enterprise employs at least 93 full-time workers. The contract binds Project Enterprise to completing its facilities within two years from the contract’s closing date. The agreement also says both parties agree Interchange Drive, which parallels Interstate 40, needs to be relocated, and the costs to do so would be the responsibility of the purchaser, Project Enterprise.