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Putnam Sells “Shoney’s Hill” Property To Realty Firm

/ The Upper Cumberland's News Leader
Putnam Sells “Shoney’s Hill” Property To Realty Firm

Putnam County has sold the, “Shoney’s Hill,” property for some $2 million.

Putnam County Mayor Randy Porter said developer V3 Realty exercised the option to buy the tract of land.

“My thoughts would be is that as we move forward with the bus garage and highway maintenance facility that that money go to help pay for that,” Porter said. “Once we are able to move those buildings down on to Tennessee Avenue and get them built move those facilities down there, we would then come back, and I would be asking you to put the rest of the property for sale.”

Commission Chair Mike Atwood said the developer’s plan is to hold the land for now. The property currently houses a communications radio tower and and a water tank on the hill with a county easement.

The Putnam County Schools Bus Garage and Highway Maintenance Department sits on the other parcel at the foot of the hill. Porter said that property is appraised at $3 million.

“We would do it with the same way we did Shoney’s property and trying to sale it,” Porter said. “Already had some interest from developers when that is going to come available.”

Porter said he looks to close on the Shoney’s Hill deal next week. Porter said the money will be held in the county’s general fund. The property was approved as surplus by the commission in April of last year.


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