Shopping Center Infrastructure Approved

Cookeville City Council approved the infrastructure agreement for a new shopping center at the corner of South Willow and I-40 Thursday night.

City Manager James Mills said the city and county will work together on improvements along Green Gate Lane and Willow, splitting the $2.7 million price tag. Mills said sales tax revenue from the new development will pay off the infrastructure in less than three years.

“If the first anchor, this is important to note, does not open by October 15, the city and there can be extensions in this, but we’re under no obligation to make the grant unless the infrastructure and improvements are completed and one of the tenants is open,” Mills said.

Mills said the projected completion date set for October, 2026. The project will run through the Industrial Development Board, transferring the money to the developer. Mills said using this form of incentive makes more sense for retail development than the typical PILOT or Payment In Lieu Of Taxes recruitment tool.

“We believe this is the best way to go forward with these types of developments in Cookeville,” Mills said. “This is pretty much cut and dry. You deliver, you’ll receive the money from us.”

Putnam County Commissioners approved the infrastructure improvements Monday night.

In other business, the council approved the bid to develop a new Walnut Avenue entrance for Dogwood Park. The city completed its service agreement renewal with Texas Eastern Transmission Pipeline. Council also approved the purchase of a 2024 Ford F350 Truck.