Agenda Items & Discussion

• The Board approved the minutes from its August 3rd meeting with no discussion.
• No members of the public came forward during the public comment period.
• Staff presented a resolution approving the Commercial Corridor Revitalization Grant Program, which authorizes the Department of Economic Development to partner with the Chattanooga Area Regional Council of Governments to process applications and recommend funding for vacant storefront, facade, and signage grants along designated commercial corridors. Board members asked how funds would be spread across corridors and properties; staff explained the roughly $1.52 million account balance is a rough estimate rather than a fixed per-corridor allocation, and that a property can be eligible for grants at up to three levels (storefront, facade, and signage).
• The Board considered a resolution authorizing the issuance and sale of tax increment revenue bonds; bond counsel confirmed it drafted and recommended the resolution.
• A representative of an industrial pump manufacturer (serving municipal, power generation, and large industrial customers) presented on its operations and workforce needs, including finance, welding, and apprenticeship roles, in connection with an incentive request.
• Staff presented a small business incentive grant request for Haggler and Associates LLC, dba Haggler Process, in the amount of $10,000.
• Staff presented a resolution to transfer $185,000 from IDB account NR13 (tech workforce) and $148,000 from IDB account NR18 (innovation), totaling $333,000, to create a new Registered Apprenticeship Employer Incentive Fund aimed at expanding apprenticeships for residents in 14 census tracts of South and East Chattanooga, targeting manufacturing, healthcare, logistics, and outdoor recreation jobs. Staff cited partnerships with the John Heldrich Center for Employment Research and the Rockefeller Foundation. One board member raised concerns about the lack of a broader strategic plan for the Board's roughly $4 million in discretionary funds and stated an intent to abstain from the vote pending more clarity on long-term direction; staff described the fund as a small, measurable pilot within that larger $4 million pool.
• Staff informed the Board of a signed notice of designation of allocation periods and subdivision of a parcel under the economic impact plan for the North River Commerce Center Industrial Park and North Access Road redevelopment, tied to 2026 TIF funding.
• Staff updated the Board on two lawsuits involving Volkswagen; because the Board holds title to the property under a PILOT arrangement it is named in the suits, but outside counsel is handling them under indemnification and hold-harmless provisions, and both are expected to resolve without cost to the Board.
• Staff noted it plans to present a path forward on strategic planning for the Board's funds at the next meeting.

Key Decisions & Votes

• Approved: August 3rd meeting minutes (motion, second, no opposition).
• Approved: Commercial Corridor Revitalization Grant Program resolution (motion, second, no opposition).
• Approved: Resolution authorizing issuance and sale of tax increment revenue bonds (motion, second, no opposition).
• Approved: $10,000 small business incentive grant to Haggler and Associates LLC dba Haggler Process (motion, second, no opposition).
• Approved: Resolution creating the Registered Apprenticeship Employer Incentive Fund by reallocating $333,000 ($185,000 from NR13, $148,000 from NR18); passed with one board member abstaining.
• Approved/acknowledged: Notice of designation of allocation periods and parcel subdivision for the North River Commerce Center Industrial Park and North Access Road redevelopment (motion, second, no opposition).