Crossville City Council has voted to auction off the former Inn of the Cumberlands location.
City Attorney Will Ridley said the site along Sparta Highway and Tennessee Avenue could make for prime commercial real estate.
“When we do those sales, the judge appoints the Clerk and Master as what’s called Special Master and asks her to sell those properties,” Ridley said. “Because of the commercial nature of this property, the Special Master has requested that she be able to hire an auction company in order to be able to handle the sale.”
The city will use Tay’s Realty & Auction LLC in Cookeville to help auction the property to a national online market.
“They’ll be entitled to a percentage which is set by law at six percent of the sale and give them $1,000 to spend on the property,” Ridley said. “They’ll front the money so it’ll be no cost to the city, but it’ll come out of the proceeds of the sale and that $1,000 will be for advertising.”
The City of Crossville paid over $88,000 to demolish the former in plus an additional $12,000 for cleanup. The building was demolished following a lawsuit filed against the former owners who owed approximately $65,000 in back taxes.
The demolition process was nearing completion last month after the property was condemned nearly two years ago after several code violations went unaddressed.