There may be more to this gentleman’s agreement, than what was previously thought if officials from THC Select can produce email correspondence to back up the answer given when asked why the company hasn’t paid any rent on the building. Corbett Gibson of THC Select spoke to the Cannon County Industrial Development Board during their regular monthly meeting at the Cannon County Courthouse. Gibson gave a history of the courtship between the County and his company that led them to moving their operations from Waverly Tennessee to Woodbury back in 2010. Gibson said that THC Select moved to Cannon County based on several stipulations. Those stipulations were that the Industrial Board offset the move costs. Any improvements made to the building was in lieu of lease. Gibson said that it was agreed with the industrial board with the county executive acting as a go between. Telephone calls, onsite visits were done with both the members of the then industrial board and county executive. Other stipulations were there was a 5 year term with a purchase option at fair market value. Agreement would commence on the start of full production which his records showed February 2011. The move costs were underestimated. In July 2010, an agreement was made that THC Select could move operations without paying rent for a period of one year. Because there was no official lease signed, the Industrial Development Board in September put together a 12 page lease. Gibson says he and other THC Select officials are willing to do a lease but not the one that the Board presented. Gibson says that he would do a lease based on what was agreed to before operations moved to Woodbury. After being asked at what time would THC Select feel to be obligated to pay rent. It was then discovered that under the terms of moving operations to Woodbury THC Select would not have to pay rent until the investments or credits they made to the building were offset. The date that officials were looking was sometime in 2013. The meeting has been recessed until Monday Night October 8th at 7:30 so that Corbett Gibson can bring in the email correspondence and the Industrial Development Board can finish dealing with the issues that might arise from the presented documentation PC Disposal, another tenant in one of the industrial owned buildings that hadn’t paid rent due to the fact there was no official lease involved moved out of the building on Bryant Lane. Officials with PC Disposal acknowledged that September Rent and Electric would be paid by the 1st of October. As of last night’s meeting PC Disposal owes $2000 in back rent and an electricity bill of $1031.00. A committee was formed comprised of Doug Bodary, Dean Moore and Neal Applebaum to work on the roof problems on the building that PC Disposal had just moved out of and the Crane Interior Building. Neal Applebaum will check with Carolyn Motley of the Cannon County Chamber of Commerce to see if there are any concerns in letting the Industrial Board use the Chamber’s phone number as theirs as well. The Industrial Board office will be located in the Chamber of Commerce office as they agreed to pay $50 a month for rent. Since the phone number, address and emails have been established for the Industrial Board, plans can proceed for the making of a brochure to market to potential industries that would be willing to locate in Cannon County. A recommendation has been made to recommend to the County Executive that the Chairman of the Industrial Board represent the Board on the Upper Cumberland Development District. Also it was approved for the Chairman of the Industrial Board to represent the board on the Cannon County Joint Economic Development Board.
