(WBIR) Sevierville leaders gave their stamp of approval Thursday for a plan to help pay for a road to a proposed shopping destination.
The Mayor and Board of Aldermen approved spending $4 million to build a road from Highway 66 to Dumplin Creek, right off I-40.
Work on the shopping destination stalled during the recession but now Neyland Land Associates is working to buy the property and continue the project.
The road is estimated to cost almost $9 million. The city said it plans to apply for two state grants to bring in $4 million more.
The developer, would then pay for the rest. If the grants aren't approved, the developer will have to come up with the extra money or the road won't get built.
In return, the developer plans to guarantee the city$500,000 in tax revenue or payment..