Total Disaster
Dirty Deeds 8.1
Total Disaster
| This is an update on an ongoing development issue in
Lenoir City. The short version is, the parcels above, approximately 16
acres, were just sold to Pedcor Investments LLC. a Wyoming LLC for
$2,500,000.00. Pedcor builds low to moderate income apartments. The "F"
property is already zoned R-3, 24 units per acre. The "A" property is
zoned R-1, 2.9 units per acre. That would allow up to about 250 units on
the properties.
Of course, Lenoir City mayor, Tony Aikens and council, just passed a 12 month moratorium on any new apartments. And of course, we all know if Aikens and his loyal council members are re-elected, that moratorium will be lifted faster than a rat up a drain pipe. The only way to stop the insane over development in Lenoir City is to replace the incumbents with people who will rewrite the city's ridiculous zoning policies. Below is more detail on how this property came to be
owned by an out of state apartment developer. |
Above is a plat map with two parcels outlined in red. They are off Simpson Road West kind of behind Taco Bell and adjacent to Carrington Subdivision. The "A" property was originally bought and owned by Lenoir City mayor Tony Aikens. The "F" property was owned by Mitzi Lynette Fuller, the wife of Travis Fuller. The "A" parcel, 5.3 acres, was bought back on 6/13/2019 by Lenoir City mayor Tony Aikens . According to deed records, he paid $125,000.00 for the property. I do have information that the mayor may have used questionable tactics to get the property, but that's another story.On 9/14/2020, while Aikens still owned the 5.3 acre property, the mayor presented the property to city council to receive a PILOT, Payment In Lieu Of Taxes, on the property. This is where the city gives a big property tax break to whomever the owner is when the property is developed. In this case, it's a 10 year tax break. The property was to become 80 apartments and if qualified for a PILOT, would have to be low to moderate income housing. In the council meeting when the PILOT was passed, Aikens told council members that he did in fact own the property and council still passed the PILOT. On 4/10/2021, the mayor gave away, quit claimed, the property to Belle Investment Company/Travis Fuller. And yes, the same Belle Investment that started the Belle West Pointe development on Hwy. 321 that is now the subject of the lawsuit between the county and the city due to being illegally annexed. On January 9, 2023, Belle Investment/Travis Fuller gave/quit claimed the property to City View LC, LLC, then on March 31, 2023, City View LC, LLC sold the property to Townview Investments LLC for $550,000.00. Townview Investments LLC owner is Travis Fuller. So, Aikens gives the property to Fuller who gives it to another LLC who then sells the property back to Fuller for 550k. The "F" property was owned by Mitzi Lynette Fuller, the wife of Travis Fuller. It was purchased on February 1, 2023 for $281,750.00. It's about 11 acres. 7/12/24, The "F" property was quit claimed by Mitzi Lynette Fuller to Townview Investments LLC., owner is Travis Fuller. 8/9/24, Townview Investments LLC, owner Travis Fuller, sold the all the property to Pedcor Investments LLC. a Wyoming LLC, for $2,500,000.00. Rest assured, at some point, Pedcor will be coming to Lenoir City to build hundreds of low to moderate income apartments.
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8/19/24
