CLEVELAND, Tenn. — Bradley County commissioners are considering canceling a deal with an investment group that bid in February for county-owned land on Peerless Road, officials said Friday.

The county accepted a bid in February for the property that includes the county’s popular farmers market, cannery and livestock show barn.

County Attorney Joe Byrd told the county Finance Committee on Friday he has heard “nothing specific” from the group, which includes businessman Forrest Preston, on why the closing has not taken place.

The County Commission’s Buildings and Land Committee has called a special 11 a.m. meeting for Monday, one hour before the commission’s noon work session.

The committee will consider whether to tell the group that the contract has been breached. If that happens, the county will keep $50,000 of the group’s earnest money and return $225,000.

County Mayor D. Gary Davis said the county sent a letter Aug. 14 asking for a closing by Aug. 29.

Mr. Byrd told Finance Committee members the choices are to let the proposed deal languish or declare the breach and move to find another buyer.

If the site were to be sold, county officials have said a new farmers market could be located on county property on Urbane Road.

Comments