The developer and owner of The Lake District (TLD) spoke at the monthly Lakeland Chamber of Commerce luncheon today (3.27.19) saying there is no bankruptcy for the project and no pending lawsuit.
The upscale 160-acre mixed-use community at I-40 and Canada Road in Lakeland is set to open phase 1 in 2020.
Yehuda Netanel told a full house at the Stonebridge Golf Club, “I want to dispel the persistent rumors about The Lake District. There is no bankruptcy.” He said he signed off on legal issues three days ago.
He also announced a May fundraising event with barbecue and wine to feature the newest announced tenants for the project. The monies will benefit Lakeland schools.
Floating among various media sites this week was chatter about a lawsuit filed against TLD by Heavy Machines Inc. Mr. Netanel said, “There is heavy equipment at work today and in two weeks we should commence grading.”
https://vimeo.com/326939618
Of the TIF (Tax Increment Financing) for TLD, Mr. Netanel said not one cent has or will come from the coffers of the City of Lakeland or Lakeland taxpayers.
Mr. Netanel said some elected officials in Lakeland are either clueless about The Lake District or are deliberately promoting false information. He cited as an example that the City asked him if the new trash cans could be staged at the TLD property. He readily agreed to the request and stacks and stacks of the three colors of trash receptacles were moved to the property.
“There was some cynical report that the trash cans were symbolic and that the property was only good for trash cans,” he said. “If you want information about the project, get it from this horse’s mouth.”
Next for TLD, he said, are building permits. Over 90% of phase 1 is leased and phase 2 will start soon.
On May 4th there will be a wine tasting and barbecue picnic featuring the newest announced tenants for TLD: Memphis Barbecue Co. and Germantown Village Wine and Liquor (which is coming to TLD under a yet-to-be-announced name). Mr. Netanel said this event will raise money for Lakeland schools.
Additional information about TLD is available at www.thelakedistrict.us or @TheLakeDistrictTN on Facebook.
… Photos, video by Jim Willis, Lakeland Currents
