Governor proposes new legislation regarding Megasite
NASHVILLE, Tenn. — Gov. Bill Lee has proposed two pieces of legislation regarding the Memphis Regional Megasite.
According to a news release, the first bill is aimed at helping finish the site with:
- A $500 million capital grant.
- Having the state build, own and operate $40 million TCAT, and water and wastewater systems.
- Having the state build a second interchange on Interstate 40.
The second bill aims to create the Megasite Authority of West Tennessee, according to the release.
The release says the new authority would be a part of the Department of General Services, and will oversee the Megasite.
The bill proposed that the authority would be run by a seven-member board of directors.
“Tennessee’s investment in the Megasite will have a generational impact on all 95 counties and cement our place as the national leader in automotive manufacturing,” said Gov. Lee. “This special session will give Tennesseans a look into the funding process, and I thank the General Assembly for their swift action.”
The release says the two proposals will go to the Tennessee General Assembly during a special legislative session addressing the funding and oversight of Ford Motor Company’s $5.6 billion investment at the Megasite.
You can read the full news release here.
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