Housing Authority of Middlesborough Awards Facilities Contract to 865 Neyland Parking Developer Llc (May 2026)

The Executive Committee approved a development agreement with 865 Neyland Parking Developer, LLC to manage construction of an $83 million, 1,316-space replacement G-10 parking garage financed through state school bond authority. The agreement includes a development fee of about $700,000, detailed contingency structures, and performance incentives and penalties tied to an August 2027 completion target.

Scope & details

The full contract record, as filed.

Contract amount

Development fee of approximately $700,000 within an estimated $83 million parking project budget

Contract type

FACILITIES

Contract term

Development period through substantial completion, currently anticipated by August 1, 2027; garage designed for at least 99-year useful life

Renewal date

2027-08-01

Renewal

One-time development agreement covering design and construction through substantial completion; no recurring renewal term specified. University may later opt to fold the garage into the leased premises for the Entertainment District after bonds are retired.

Document type

AgendaPacket

Source document

University of Tennessee Board of Trustees Executive Committee Agenda Packet 2026-05-04

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University of Tennessee Executive Committee Agenda May 2026

APPROVED

The University Of Tennessee System Office, TennesseeDevelopment cost estimated at $83 million; Development Fee approximately $700,000; University hazardous materials cost share up to $500,000; various contingency funds totaling over $5 millionMay 2, 2026

Frequently asked questions

Common questions about this contract, answered from the record.

Who was awarded the facilities contract by Housing Authority of Middlesborough?

865 Neyland Parking Developer Llc was awarded this facilities contract by Housing Authority of Middlesborough, as recorded on May 4, 2026. The contract value is Development fee of approximately $700,000 within an estimated $83 million parking project budget.

How much is the 865 Neyland Parking Developer Llc contract with Housing Authority of Middlesborough worth?

The 865 Neyland Parking Developer Llc contract with Housing Authority of Middlesborough is valued at Development fee of approximately $700,000 within an estimated $83 million parking project budget, covering facilities work.

What type of contract is this?

This is a Facilities contract, documented as a agendapacket record.

Where was this contract approved?

This contract appears in University of Tennessee Board of Trustees Executive Committee Agenda Packet 2026-05-04 (AgendaPacket), dated May 4, 2026 from Housing Authority of Middlesborough. Civic IQ extracts contract records directly from agency meeting documents and solicitations.

What other contracts does 865 Neyland Parking Developer Llc hold?

865 Neyland Parking Developer Llc may hold additional government contracts. View their full contract history, the agencies they serve, and total tracked spend on their Civic IQ vendor profile.

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What is Housing Authority of Middlesborough currently buying?

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