Budget Committee, March 9, 2026
Approves Highway equipment inter-fund loan debt obligation report (CON series 2026), passed
What happened
The Lawrence County Budget Committee approved a Tax Increment Financing (TIF) agreement for a new Hampton Inn in Marksburg (developed by GHD Properties / Gobble High Duke), not to exceed $1 million plus interest, contingent on the City of Marksburg Industrial Development Board's…
- Jurisdiction
- Lawrence County, TN
- Governing body
- Final authority
- Date
- March 9, 2026
- Decisions
- 7 zoning decisions
- Outcome
- Approved, passed
Free sample: decision 1 of 7
Hampton Inn TIF Agreement
TIF agreement for a new Hampton Inn developed by GHD Properties (Gobble High Duke), not to exceed $1 million plus interest. Developer procures the loan; property taxes reimburse it over a 10- or 15-year term. Total investment estimated at $15.5-$16.5 million; combined city/county property tax estimated at $110,000-$120,000 annually. Approved and sent to full commission, contingent on City of Marksburg IDB public hearing March 23rd.
- Contingent on passage/approval at the City of Marksburg Industrial Development Board public hearing on March 23rd
The other decisions are listed below by title. The full write-up, verbatim conditions, and the audio at each vote are in Pro.
Meeting Summary
The Lawrence County Budget Committee approved a Tax Increment Financing (TIF) agreement for a new Hampton Inn in Marksburg (developed by GHD Properties / Gobble High Duke), not to exceed $1 million plus interest, contingent on the City of Marksburg Industrial Development Board's…
Key Decisions (7)
Hampton Inn TIF Agreement
Water line extension - add sixth household
Child support grant contract amendment
Highway equipment inter-fund loan debt obligation report (CON series 2026)
EMS rate changes
New ambulance purchase
General fund budget amendments
Development Activity (1)
Hampton Inn (Marksburg)
Commercial
Market Signals (3)
Commercial Demand
A new $15.5-$16.5 million Hampton Inn is being developed in…
Infrastructure
The county is considering creating a countywide water line assistance…
Infrastructure
Lawrence County EMS operates at a loss ($1.4M revenue vs…
Who Spoke (10)
On the record: the chair, a board member, and 3 staff members.
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