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.