MTA nears deal on Peterbilt property

The Metro Transit Authority expects to close a sales agreement in early August for the purchase of the Peterbilt truck plant property in Madison.

In June, the MTA board approved negotiations on buying the site of the closed plant to use as its administrative headquarters and maintenance department.

"I see no problems, and everything is moving forward,'' MTA CEO Paul Ballard said.

The property is listed at $21 million, but officials have been negotiating that down.

Ballard has estimated MTA would put about $9.4 million toward the purchase from grants and available funds.

MTA wants a partner to use the property and share in the purchase. Metro police wants to add a precinct in Madison and has had representatives visit the Peterbilt location on Myatt Drive.

The property is about 65 acres.

Peterbilt closed operations in late 2009 after sales slowed, but the plant essentially had been shut down since mid-2008 because of a labor dispute.

— ANDY HUMBLES
THE TENNESSEAN