Oak Ridge North City Council approved purchasing a property at 27045 Hanna Road during a special meeting with the Economic Development Corporation on Nov. 6.
What you need to know
During a special joint meeting, the city and EDC made an agreement to purchase the industrial property at 27045 Hanna Road.
The agreement allows the city to enter into a leaseback agreement with Lone Star Services for the property for $3,750 a month for one year, or until the business relocates to another location. The city will then fully acquire the property for future use.
