Former Inn of the Cumberlands Property Sold

Crossville has officially sold the Inn of the Cumberlands property for $130,500.

City Attorney Will Ridley said during Tuesday’s council meeting a portion of the money will go back to the city.

“The city will be reimbursed for a substantial portion of back taxes at the beginning of next month from the chancery court clerk,” Ridley said. “The county, thanks to some negotiations with [Crossville Mayor James Mayberry], has agreed to release a $10,000 hotel-motel tax lean from 2008.”

The city listed the property for sale in April following the demolition of the former Inn earlier this year. The total demolition cost for the city estimated $88,000 plus an additional $12,000 in for cleanup.

“After the payment of taxes, the city should receive a check for somewhere around $40,000 out of the sale to apply towards the demolition costs,” Ridley said.

The buyer of the property was not named during Tuesday’s meeting.