SHEFFIELD, Ala. – It has taken several years to get to this point, now it may take another 90-days to close on a large surplus tract of land auctioned off by TVA in the Shoals.
In March of 2017, the Tennessee Valley Authority showed renewed interest in selling off a massive land tract on the Muscle Shoals Reservation. 900 acres, including several buildings abandoned by TVA over the years.
Sheffield Mayor Ian Sanford has been anticipating the land sale along Hatch Boulevard for at least six years.
“We have been waiting on this for quite a while,” said Sanford. “TVA did a good job; they had a lot of hurdles to jump through, but they were excited also.”
On Friday, the land was auctioned off. Muscle Shoals Holdings, LLC came in as the high bidder at $5-million. The Limited Liability Company formed in December of last year and is based in Knoxville.
“Just to see something; yeah some lights and some activity would be very nice,” Sanford explained.
Just over 600-acres fall inside the city of Muscle Shoals and 300 in Sheffield. Both are optimistic the land will turn into something beneficial for the entire Shoals area.
Muscle Shoals Holdings, LLC. Has 90-days to close on the property they purchased.
The Alabama Department of Environmental Management must also release a development permit on the land before the closing can be finalized.