Thu
Jul 19 2007
09:39 am
Blount Co. land deal tax breaks?
By: R. Neal

The Blount Co. land deal involving a local who's who of politics and business may result in some sweet tax breaks for the investors, according to one source.

The deal to purchase 5000 acres of land near the Great Smoky Mountains National Park (first reported here, with more details here), and put most of it into conservation could result in up to $50 million in tax breaks for the investors, according to another source.

That's OK, though. That five bucks you drop in the donation box at the entrance to Cades Cove is tax deductible, too. If you can itemize. And if you're not subject to the AMT.

Read more re. development, with a bonus quote from Blount Co. Mayor Jerry "The Developer's Friend" Cunningham...

Regarding "low-density" development of up to 125 homes on the property, the KNS article quotes developer Walt Lane as saying that "very light-touch development" would be the only prudent use for the "mountains that remain [?] in that area."

The article quotes Blount Co. Mayor Jerry "The Developer's Friend" Cunningham as saying "Knowing the people involved, they are people of their word. If they tell you they are going to do something, it will happen that way." If Mayor Jerry says it, you can take it to the bank. So to speak.

All that aside, we're glad to see 5000 acres of beautiful foothills land rescued from a lumber company, and that tax breaks can help make land conservation possible. And knowing some of the investor's reputations for conservation, we aren't too worried about what might happen.

It would have been nice if they could have donated it to the Foothills Land Conservancy or the National Park instead of reserving it for lifestyles of the rich and famous, but we understand that's an expensive proposition (about $20 million!) and it's good that they are committed to conserving most of the land. We hope they follow through with it.

Nobody seems to know much about the developer, Walt Lane, though. Maybe someone familiar with the Charles Towne Landing development over in Knoxville knows more about him? At any rate, we hope he doesn't have something in mind along the lines of what they are doing to the ridgetops over in Wears Valley or up there on Chilhowee Mountain.

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Anonymous's picture

Blount County Land Deal

Submitted by Anonymous (not verified) on Thu, 2008/04/03 - 11:32am.

It's taken me a long time to decide to comment on this, mainly because I didn't realize that I could keep my name anonymous and I did not want Walt Lane to know who sent this. There are quite a few of us in Knox County that are familiar with Walt's projects and his practices. He has upset more homeowners than I can count. Charles Towne Landing and it's Summit has had many many problems. At the Summit on Nubbins Ridge Rd he installed a pool that he never got an okay on, then put it under TVA power lines which made it unusable. The homeowners there had been promised a pool and clubhouse. He's moved buyers into houses for which there was no certificate of occupancy issued. The landscaping was not done correctly, the storm water drains just sent the water into Charles Towne Landing. Then he started the Westland Manor project and because of improper work practices he has sent tons of dirt and runoff into the pond at Charles Towne Landing. He had a setback on those homes, then got a variance (we didn't notice the sign to catch it) and has now built homes over there that are over the variance and then added a deck or porch and run them right up against the fence. Some people on Cypress Lake East are very unhappy. Knox County has just allowed him to get away with stuff for years and one can only wonder why. Each time our homeowners association has had to go to battle with him, he ignores us and says he has the county in his pocket. Well, after a few years here I have to admit he must be right....he knows someone or pays off someone to get away with all the stuff he does. Last year the county must have had egg on their face over two swimming pools built without permits and one even under TVA lines because they agreed to make Walt dredge our pathetic duck pond. Most people have just decided that Walt is incapable of telling the truth to anyone and best not to deal with him. We were all shocked that the Alexander, Clayton, Beall etc. names were involved with such a man. We thought that surely they knew his record....but then, maybe that's why they wanted him. So, a warning to Blount County.

Anonymous's picture

Hi anonymous, Sorry to

Submitted by Anonymous (not verified) on Wed, 2008/04/16 - 10:02am.

Hi anonymous,

Sorry to change the subject, but I see you mentioned the Charles Towne Landing development. I've been looking at online MLS listings for some of those homes. I see that a lot of them have synthetic stucco. Do you know of any of the homes in that development having moisture damage issues?

bkslover's picture

synthetic stucco

Submitted by bkslover on Mon, 2008/05/12 - 4:18pm.

It has not been a big issue here as it has in some other subdivisions. There are only about three that I know of, out of 183 (homes), although some in here have brick and no stucco. Before they can sell there must be a "stucco inspection" and any damage repaired. Also, they have to now be trimmed away from ground level.
We've been here in "fake stucco" for 11 years and no problems yet. (and the house was about 8 years old when we bought it)

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