Clarksville officials have agreed to drop an eminent domain lawsuit against the owner of the former Colgate-Palmolive property, as development plans progress.

The Clarksville Town Council and Redevelopment Commission voted at a special meeting Tuesday to approve a settlement agreement with Clarks Landing Enterprise Investments, LLC, the owner of the historic property, known for its giant clock.

It states that the owner has entered into an agreement with Louisville-based firm Weyland Ventures, LLC, to develop the property, and that the parties have agreed to settle “to avoid the cost, delay and uncertainty of further litigation.”

Plans are preliminary but firm founder Bill Weyland said they could include a hotel, restaurants and convention center.

The town brought the lawsuit more than

See Full Page