Critics are raising conflict of interest questions in connection with a real estate development company partly owned by U.S. Rep. Heath Shuler, D-11. From the article:
A real estate company partially owned by U.S. Rep. Heath Shuler won the right from the Tennessee Valley Authority to build a marina along the shoreline of a lake, an action that has raised concern because Shuler serves on a committee that exercises oversight of the TVA.
Shuler owns 80 percent of Highlands Development Group, which has a 50 percent stake in a development called The Cove at Blackberry Ridge near Knoxville. Shuler?s interest in the project was valued last December at $5 million to $25 million, according to financial disclosure records.
The TVA on June 3 approved a swap that allowed the Cove access to 145 feet of shoreline on the Watts Bar Reservoir in Roane County. The developers wanted the Watts Bar water access for a 10-slip community dock and a boat ramp. In exchange, the developer agreed to give up 150 feet of water access rights in Rhea County, Tenn., and give $15,000 for a bank stabilization project on a Watts Bar island and bird sanctuary.
