NASHVILLE, Tenn. (WKRN) — Gov. Bill Lee addressed the media following a three-day special session on legislation surrounding the Ford megasite. Democrats are also expected to respond to the outcome of the special session.
On Monday, Lee presented two bills to the Tennessee General Assembly.
So far, in the Senate the two main bills have passed committees. And in the House, the bills were brought up in finance committees.
Below is an original description of the two main pieces of legislation.
SB 8002/HB 8002: Addresses the approval of appropriations to incentivize and complete the Ford Megasite. The bill would also provide the funding for infrastructure and improvements to support the regional growth around the project. In total, the bill offers $675 million for the establishment of the megasite. That includes the following:
- Capital grant for Ford: $500 million
- Construction of infrastructure, demolition of structures, and all related work: $ 138,218,300
- Construction of TCAT at the initial Megasite property: $40 million
The bill details the Authority would be established and administratively attached to the Department of General Services and governed by a seven-member board of directors. The purpose of the authority would be to develop, operate, manage, incentivize, and promote Ford’s Blue Oval City property.
Meanwhile, another Special Session has been called to address COVID-19 mandates. That’s scheduled to start Oct. 27, 2021.