Industrial Development Board Resolution No. IDB-26-02 for Project TIDE 2026-06-23
PILOT Incentive and Lease Approved for Project TIDE
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Description
The Industrial Development Board approved a PILOT incentive and Lease agreement with Project TIDE, requiring $80.2 million investment and 96 new high-wage jobs. The company will pay an application fee and all associated document preparation costs. Legal counsel is authorized to draft the required Lease and related documentation.
Contract Details
Contract Amount
Approximately $80.2 million capital investment plus $1,500 application fee and closing costs (legal, recording)
Vendor
PROJECT TIDE
Agency
Portland Housing Authority, TN
Contract Type
OTHER
Document Date
June 20, 2026
Contract Term
Construction plus PILOT incentive term per Lease (details in Exhibit A, not specified)
Renewal Info
Lease and PILOT term and options to be specified in formal Lease per Exhibit A. Performance requirements and reporting obligations detailed in Lease.
More from PROJECT TIDE
Related Contracts
More from Portland Housing Authority
Industrial Development Board Resolution No. IDB-26-02 for Project TIDE 2026-06-23
City of Portland Agenda 2026-06-15
City of Portland Board of Mayor and Aldermen Agenda 2026-06-15
City of Portland Agenda 2026-06-15
City of Portland Agenda 2026-06-15
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