2026-09-08 - Industrial Development Board
Summary
Built from the board's posted agenda and from the minutes of this meeting as printed in the next month's agenda packet, which were read only in part (the text was cut off partway through the prospect activity report). Approval of these minutes is recorded at the 2026-10-05 meeting. No video was found.
- Meeting held Tuesday (the agenda header says Tuesday). Present: David Wilson, Richard Chinn, Harold Trapp, Peter Newby, Ryan Overton, Sasha Little and Michael Russell; Timothy Stallings and Adam Vann were absent. Tammy Rackard and Randy Hemann attended for the city.
- Minutes of 2026-08-03 approved unanimously. Little presented July and August financial reports in Stallings' absence; they were accepted unanimously.
- Finance and Audit Committee (met 2026-08-31): the board unanimously approved moving $2 million into a one-year CD at TNBank at 4.25 percent and Revision 1 of the IDB Procurement Policy (IDB Procurement Policy and Investments).
- Prospect activity report: new companies interested in Oak Ridge, but a lack of real estate means some are working with other communities; the Powerhouse site owner and buyers were also discussed (Heritage Center and Reservation Land for Economic Development).
- New business on the agenda: transfer of about 15.45 acres for a city substation (Substation and Electric System Work); a PILOT transaction with Mainstreet Capital Partners, LLC (IDB Payment in Lieu of Tax Agreements); a request that DOE amend the SSP-2 quitclaim deed to add land uses for the Orano project (Orano Project Parcel and Development Agreement); and an R-50 project update. Outcomes of these items were not read.
Issues
- Orano Project Parcel and Development Agreement
- Heritage Center and Reservation Land for Economic Development
- IDB Payment in Lieu of Tax Agreements
- Substation and Electric System Work
- IDB Procurement Policy and Investments
Agenda
Agenda PDF posted; see Sources.