The City Council voted to fund improvements to Camp Jordan Parkway which led to the announcement by developers that Zaxby’s is coming to East Ridge.
In a Special Called Meeting on Thursday at City Hall, the council voted unanimously to fund widening of Camp Jordan Parkway to handle the crush of traffic expected upon the completion of the Bass Pro Shops building at Exit 1. With the first step taken to fund the improvements, John Healy, a principal in Wolftever Development the outfit developing Jordan Crossing, announced that Zaxby’s had signed a deal to build a new story directly across from the giant outdoors outfitters.
“(The deal with Zaxby’s) was contingent on the road being built,” Healy told the council. “This is a big, exciting project for us and we think it’s a great fit.”
Healy said Wolftever was “very close” in making an announcement soon that is “significantly larger” than the news that Zaxby’s is coming to town. You can watch the actual announcement below:
The council passed a resolution authorizing the city to enter into an Interlocal Agreement with Hamilton County to fund the road improvements. The city will spend $500,000 in fiscal year 2015-16 to fund the first phase of the project _ widening Camp Jordan Parkway to four lanes. The city would then appropriate $500,000 from the 2016-17 budget to continue with the improvements.
The source of the funding would come from the city’s State Street Aid Fund. City Treasurer Thad Jablonski said the Street Aid Fund is replenished on a yearly basis to the tune of $500,000 from gas taxes that consumers pay.
Mayor Brent Lambert said the city would authorize the bid process as quickly as possible. Construction on the improvements could begin as early as September, officials said.
Wolftever’s Ethan Wood told the council that bids for the project could go out “realistically” in August and potentially let shortly thereafter. He said the necessary permits could be obtained form the state and county in short order. He told the council it would not have to write a $500,000 check initially. He said as the work progressed the city would pay for the project accordingly.
In last week’s council meeting, Healy told the panel that the Bass Pro Shops and the additional 350,000 square-foot space retail that would comprise Jordan Crossing, could generate $1.6 million a year in local sales tax revenues.
The entire road project _ which would include a new configuration of Exit 1 on Interstate 75, signaling at the intersection of Ringgold Road at the exit, res-striping the Ringgold Road overpass on I-75 to accommodate six lanes of traffic and the widening of Camp Jordan Parkway _ is estimated to cost $2.8 million.
Aside from Hamilton County, Tennessee Department of Transportation has also agreed to contribute to funding the project.