CLARKSVILLE, TN (CLARKSVILLE NOW) – Construction of a parking garage across from the F&M Bank Arena is getting closer to starting. During a Thursday morning meeting of the Clarksville-Montgomery County Economic Development Council Executive Committee, members heard an update on the overall process and projected timeline.

The 724-space garage will soon begin construction. Before that can begin however, a few things must happen. A six-step process was outlined, spanning from land acquisition to operation and management of the garage.

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Step 1: County leaders need to clear the way for developers to build on land donated to the county by the Hand family. A resolution was approved by the Montgomery County Commission on Aug. 8 allowing the project to get started. The resolution authorizes the mayor to enter into future agreements with Riverview LLC, who will lease the land and facility upon completion of the project.

“We’re not in the parking business, so we’re looking at a partnership agreement where somebody is going to donate the land and basically we’re going to get a garage without any debt to our taxpayers,” stated County Mayor Jim Durrett during the Aug. 8 County Commission meeting.

Step 2: Officials also need to make sure sufficient funds are available for the project. In May, leaders announced the project would be funded through a $14 million grant from the state. Durrett said Thursday that the county wants to make sure the final cost matches the money that was provided by the state.

“Our big concern is that the $14 million is what we need to get us a finished garage,” he said.

Step 3: The EDC Executive Committee took another step forward on Thursday by approving an interlocal agreement between the EDC and the developer of the property. The EDC has agreed to manage the structure for up to 70 years and will oversee the annual budget. All other agreements must also be approved before construction begins.

Step 4: The Tennessee Comptroller of the Treasury will review the plan to expend state funds. The comptroller will look over all documents pertaining to the project, ensuring fiscal integrity according to state standards.

Step 5: Construction of the garage will actually take place off-site as materials will be precast for the project. Durrett noted that construction has been slowed due to a “backup” of orders from the company that is casting the materials. That said, the structure is expected to be built in less than a year. The developer on site will be Skanska.

Step 6: The final portion of the plan deals with the management and operation of the property. Durrett said that while the day-to-day operation of the garage will be handled by a private company, it’s important that the EDC have a role in how the garage is managed, with oversight of parking rates, for example.

“The EDC’s role is really going to be more of a management role,” Durrett said.

Completion of the project could be as soon as August 2023.

Parking

While the garage will not be completed until next fall, the F&M Bank Arena will be completed much sooner.

Officials say the arena should be done by the end of the year, with the 6,000-seat facility expected to open to the public on July 1, 2023. That means there could be some initial parking issues downtown with the arena opening before the parking garage. Once open, the garage should alleviate those problems.