Clarksville officials are conducting talks with an unidentified prospective suitor for the unused Hemlock Semiconductor site, The Leaf-Chronicle reports.
According to the paper, the Montgomery County Budget Committee on Wednesday forwarded a resolution to the County Commission. If approved, the resolution would authorize a "site location and development agreement” involving the state of Tennessee, the Industrial Development Board of Montgomery County, Montgomery County and the city of Clarksville.
Hemlock nixed continued work on the site in December 2014. Had the full development been finalized, it would have carried an approximately $1.2 billion investment.
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Prominent regional business executive Gaylon Lawrence has agreed to buy F&M Bank in Clarksville, which has about $860 million in assets and last year produced $5.3 million in profits. Click here to read more at The Leaf-Chronicle courtesy of Jimmy Settle, who talked to an upbeat F&M President and CEO Sammy Stuard.
“Through this merger the bank stays fully intact in Clarksville, Tenn. There are going to be no changes in employment or anything,” Stuard said. “Actually, nothing changes except the owner. Our existing board of directors also stays intact, although there may be some additions to the board over time.
Lawrence also is a backer of Tennessee Bank & Trust in Williamson County and is helping John Eakin build his 1201 Demonbreun office tower in The Gulch.
First Advantage Bank has added to its ranks a senior vice president in the form of Kyle Luther, a veteran business lender who had been at Planters Bank for a dozen years. Luther specializes in commercial real estate and construction lending. Read more about his move here.
The Tennessee State School Bond Authority has approved short-term financing to be used, in part, to acquire approximately 10.5 acres for Austin Peay State University expansion, according to clarksvilleonline.com.
Campus Plant Funds and a short-term bond issue will fund the purchase, the online site reports.
The APSU campus spans 160 acres and sits on the northern fringe of downtown Clarksville.
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It wasn't a huge surprise a month ago when the leaders of Hemlock Semiconductor said they plan to shut for good the doors of their Clarksville polysilicon plant. On Thursday morning, parent company Dow Chemical said how much that decision will cost it. The Michigan-based industrial giant will take a $500 million hit pre-tax, which comes out to $465 million after taxes.
SEE ALSO: A 2013 TNReport.com story detailing the money Hemlock got in various subsidies and credits for building its doomed Middle Tennessee operation.
The board of directors of Clarksville-based First Advantage Bancorp has voted to boost the company's quarterly dividend to 10 cents per share. That's a whopping 43 percent increase from the previous payout of 7 cents. The move is effective for shareholders as of Feb. 5.
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