PURPOSE:
The purpose of the Board is prescribed by the Industrial Development Corporation Act of Tennessee as set forth in the State statute and enables the Board to acquire, own, lease and dispose of properties to promote industry and to develop trade by attracting manufacturing, industrial and commercial enterprises to Oak Ridge. Bonds can be issued by the Board. Click here to view the IDB’s Charter. On December 12, 1988, Council delegated to the Board the authority to sell certain City-owned industrial properties. On December 14, 2020, Oak Ridge City Council approved by Resolution 12-105-2020 the 2021 PILOT Reauthorization which allows the IDB to offer Payment In Lieu of Tax (PILOT) agreements for industrial and commercial projects within prescribed guidelines.
COMPOSITION:
The Board is comprised of nine (9) members. Members are elected by Council for six-year staggered terms of office. Five (5) members constitute a quorum and the concurring vote of a majority of those members present at a meeting is required for board action.
2022 IDB BOARD OF DIRECTORS |
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| First Name | Last Name | Officers | Term End |
|---|---|---|---|
| Sasha | Little | Secretary/Treasurer | Dec 31, 2029 |
| Richard | Chinn | Dec 31, 2029 | |
| J.R. | Hertwig | Dec 31, 2025 | |
| Ryan | Overton | Dec 31, 2027 | |
| Peter | Newby | Dec 31, 2025 | |
| Timothy | Stallings | Dec 31, 2025 | |
| Harold | Trapp | Vice-Chairman | Dec 31, 2027 |
| Adam | Vann | Dec 31, 2027 | |
| David | Wilson | Chairman | Dec 31, 2029 |
MEETINGS:
The Board typically meets on the first Monday of each month.