The Industrial Development Board of the City of Bristol Resolution 2026-2 2026-05-20
Bristol IDB Amends Development Deal With Friendship Properties
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Description
The Industrial Development Board of the City of Bristol approved a Second Amendment to its Development Agreement with Friendship Properties, LLC for a revised border region retail project focused on a new car sales and service facility. The amendment updates the project scope, phasing deadlines, and reimbursement eligibility under the Border Region Retail Tourism Development District Act.
Contract Details
Vendor
FRIENDSHIP PROPERTIES LLC
Agency
Bristol Housing, TN
Contract Type
FACILITIES
Document Date
May 20, 2026
Contract Term
Phase 1 completion and opening within 24 months of November 27, 2017; Phase 2 completion within 24 months from date of Second Amendment in 2026
Renewal Info
Second Amendment modifies and restates Section 2.01 of the 2017 Development Agreement, as previously amended in 2018, and requires Phase 1 completion within 24 months of the original agreement and Phase 2 completion within 24 months of the Second Amendment date. Under the Border Region Act, costs incurred after the statutory investment period may not be reimbursed.
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Related Contracts
The Industrial Development Board of the City of Bristol, Tennessee Agenda Packet 2026-06-22
AMENDEDThe Industrial Development Board of the City of Bristol, Tennessee Agenda Packet 2026-06-22
RATIFIEDThe Industrial Development Board of the City of Bristol, Tennessee Agenda Packet 2026-06-22
RATIFIEDIndustrial Development Board of the City of Bristol Regular Board Meeting Agenda April 2026
APPROVEDIndustrial Development Board of the City of Bristol Regular Board Meeting Agenda April 2026
APPROVEDMore from Bristol Housing
Bristol, Tennessee City Council Meeting Agenda 2026-06-02
Bristol, Tennessee City Council Meeting Agenda 2026-06-02
Bristol, Tennessee City Council Meeting Agenda 2026-06-02
Bristol, Tennessee City Council Meeting Agenda 2026-06-02
Bristol, Tennessee City Council Meeting Agenda 2026-06-02
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