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- Posted By: Barry Shumpert
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Information from Timbercrest Meeting, October 13, 2004
The buffer strip north of Lance Dr. is up for online auction at Alley Realty & Auction Company. The online auction closes at 6 PM on Wednesday, October 23. The minimum bid is listed as $40,000. There is an “Open house” this Wednesday, October 16, from 4 to 6 PM. If you attend the open house, please wear green so you can be identified as a Timbercrest resident. The link to the online auction is "West Knox Homesite: Timbercrest Trail – Knoxville, TN": https://alleyauction.com/property/development-opportunity-casey-drive-knoxville-tn
At the October 13th meeting, neighbors unanimously agreed the neighborhood should purchase the land to conserve. There are myriad benefits to preserving the natural, wooded buffer that blocks sight and sound from the industrial zone along Middlebrook Pike.
Average Contribution Needed
Purchase Price | 20 contributors | 30 contributors | 40 contributors | 50 contributors |
---|---|---|---|---|
$40,000 | $2,000 | $1,333 | $1,000 | $800 |
$50,000 | $2,500 | $1,667 | $1,250 | $1,000 |
$60,000 | $3,000 | $2,000 | $1,500 | $1,200 |
$70,000 | $3,500 | $2,333 | $1,750 | $1,400 |
$80,000 | $4,000 | $2,667 | $2,000 | $1,600 |
We are preparing now to try to obtain the property. We cannot exceed the total amount pledged by neighbors. Pledge by using this site's Contact Us form with Conservation as the category. Please pledge by Wednesday, October 16 so we understand how much buying power we have.
The land will be purchased by a 501(c)(3) serving as the fiscal sponsor on behalf of the neighborhood, while we obtain our official 501(c)(3) status, from the IRS. This process has already begun.
All pledges are being tracked. If pledge amounts exceed the sale price, donors would not be asked to pay the full amount of their pledge. Individual payments would be decided based on a percentage basis of the sale vs. the amount pledged.
What will we do with the property? At the October 13 meeting, we decided to preserve the land permanently. That may happen through a conservation easement or some similar mechanism. The details will be finalized after the purchase. Because of the short amount of time for the auction, we are focused on removing this land from the market at this time.