"Shall the Town of Walden, Tennessee, issue indebtedness up to a maximum amount of $1,400,000 for the purpose of financing the acquisition of land known as the 'Totten Tract?'"
That is the full question Walden voters will see under the Town of Walden Municipal heading of the Hamilton County sample ballot for Tuesday, Nov. 3, with two choices, "For" and "Against." Most of the talk around Walden calls it a vote on buying the 42 acres across Taft Highway from Town Hall. The ballot asks something narrower and in some ways bigger. It asks whether a town that, according to Mayor Lee Davis, has never carried debt should take on debt now.
The price, the appraisal, the foundation pledges and the questions about what the land would become all bear on one number, the $1.4 million loan, and on how much of it Walden would end up paying off itself.
How a Board Decision Became a Ballot Question
The land in question is the Totten property at 2101 Taft Hwy, as the town's April 14 meeting agenda lists it. It sits across from Walden Town Hall and the Pumpkin Patch playground, a short distance from McCoy Farm & Gardens. In an August piece for the Chattanooga Times Free Press, Mayor Davis described the tract as mostly wooded and more than 40 acres.
The town's Board of Mayor and Aldermen took up the purchase at its April meeting and didn't vote. In May, according to Chattanoogan.com, Vice Mayor Lizzy Schmidt and Alderwoman Angela Cassidy voted to buy the property, and Mayor Davis voted no. A town resolution dated May 12, 2026 authorized borrowing up to $1,400,000 for the purchase.
A petition then went around to put the decision to voters. It needed signatures from 10 percent of Walden's registered voters, about 190 people, by June 6. By late May, Chattanoogan.com reported, Mayor Davis said the petition had enough signatures to force a vote. That's why the debt authorization, not the purchase agreement, is what appears on the ballot.
Only voters inside the Town of Walden decide this one. Neighbors in the Town of Signal Mountain or unincorporated parts of the mountain will see a different ballot. The outcome still shapes the stretch of Taft Highway they drive past.
The Money, Sorted by How Certain It Is
The most-quoted figure in this debate is $1.7 million in foundation support. The town's own paperwork splits that number in two. Draft Resolution 2026-665, on the agenda for Walden's Oct. 21 special meeting, says two Tennessee 501(c)(3) foundations, both anonymous by request, have committed $100,000 each toward the down payment. After that, one would give $50,000 a year and the other $100,000 a year for five years. Each foundation will "reevaluate" at the end of that period whether to continue for five more years.
The resolution does the arithmetic itself. The down payment gifts plus the first five years of annual gifts come to $950,000. Only if both foundations choose to continue does the total reach $1,700,000.
| Piece of the $2.1 million deal | Amount | Status, per public documents |
|---|---|---|
| Town reserves at closing | About $500,000 | Proposed use of existing town funds |
| Foundation down payment gifts | $200,000 | Committed |
| Loan balance | Up to $1,400,000 | What the ballot asks voters to approve |
| Foundation annual gifts, years 1 to 5 | $750,000 total | Committed |
| Foundation annual gifts, years 6 to 10 | $750,000 total | Subject to each foundation's reevaluation |
Five years of committed giving totals $750,000 against $1.4 million in principal, before any interest. If the second five years arrive, total annual giving reaches $1.5 million, more than the principal. Whether the gifts end up covering the loan comes down to a decision the foundations will make around 2031. An opposing letter in Chattanoogan.com made that point directly, arguing that close to half of the $1.7 million "is a hope, not a commitment" while "the loan belongs only to the Town."
The Vice Mayor's own description of the pledges adds one more condition. In her Oct. 5 statement, reported by Chattanoogan.com, each foundation would continue its annual contributions for an additional five years "if the town has not paid off the loan or sold the property." That means the second round of gifts is tied to the town still holding both the loan and the land. She also said the foundations would be open to matching additional private donations from residents, and Mayor Davis noted that those matching funds haven't been committed.
Price, Appraisal and What Each Side Counts as a Discount
The town would pay $2.1 million. Mayor Davis said the property was independently appraised at $1.85 million, which puts the price $250,000 above appraisal.
Supporters measure from a different starting point. In May, a resident who backs the purchase told Chattanoogan.com that a developer had offered the Totten family the full $2.4 million asking price. He said the family, because of its "long association with Walden," offered the property to the town for $2.1 million instead. That developer offer comes from the supporter's account and hasn't been documented publicly. Each side, then, is calling the same price a deal or an overpayment depending on whether it starts from the appraisal or the asking price.
The same supporter said the two donors would cover all debt service for five years, with money left over for the loan, and called the town's real loan exposure "likely much less" than $1.4 million.
Why the Timing Weighs on the Debt Question
Both sides point to Walden's history, and they read it differently. A supporter's letter cites the Town Hall, the Pumpkin Patch and McCoy Farm as earlier projects that met opposition and became assets, with "the debt no longer." The opposing letter on the same page says Walden paid for each of those from reserves without borrowing. It adds that the town lost its share of the state's Hall income tax when the tax was repealed in 2021, and claims town expenses have since risen 284 percent while revenue rose 71 percent.
Mayor Davis framed his concern around recent household costs. "We have shifted the cost of garbage collection to residents, residents are now paying stormwater fees, and property owners have seen changes in their tax bills following the countywide reappraisal," he said in the Oct. 5 statement. In that setting, he said, the town should look carefully at using about $500,000 of reserves that would otherwise go to "paving, infrastructure, emergencies and other municipal needs." He also said preserving open space is "a laudable goal." His question is whether Walden should become the long-term owner and manager of another 42 acres.
In an Oct. 16 perspective in the Times Free Press, Vice Mayor Schmidt argued that the private commitments reduce the town's net burden. She acknowledged the $500,000 from reserves and the $1.4 million loan.
No Plan Yet for the 42 Acres
The ballot doesn't decide what the land becomes. Nothing has been adopted. Vice Mayor Schmidt has said residents should shape the site through planning charrettes and the town's Land Use Plan. In a letter to Chattanoogan.com, a resident proposed a mix of large-lot homes and low-impact public parkland. A June letter supporting the purchase described a possible mix of shops, residences, parks and trails.
For supporters, the open question is the reason to buy. Owning the land, the May supporter argued, would let the town guide citizen discussions and apply its zoning and conditions directly, instead of reacting to a developer's requests for variances. Opponents read the same gap as a missing budget. Two October letters in Chattanoogan.com argued that no plan or cost estimate for maintaining the property has been presented, and that the land would produce no income. The opposing October 12 letter points to the Land Use Plan approved in March 2022 as the existing tool for guiding development on the mountain.
The Calendar From Here
- Oct. 21: Walden's special meeting agenda included proposed Resolution 2026-665, which accepts both foundation gifts. As written, acceptance takes effect only if a majority approves the referendum.
- Thursday, Oct. 29: The last day of early voting, which began Oct. 14. No early voting site is in Walden. The Election Commission lists its office at 700 River Terminal Road; the Hixson Community Center at 5401 School Drive; the Chris L. Ramsey Sr. Community Center at 1010 N. Moore Road; Collegedale Commons at 4950 Swinyar Drive; the Harrison Center at 5637 Highway 58; and the Soddy Daisy Community Center at 190 Depot Street. Weekday hours are 8 a.m. to 7 p.m. at the commission office and 10 a.m. to 6 p.m. at the other sites.
- Tuesday, Nov. 3: Election Day. A majority "For" authorizes the borrowing. A majority "Against" means the town doesn't take on the debt.
Mayor Davis, who voted against the purchase, has said he will "respect that decision and work to make it successful" if voters approve it. If they reject it, he said, he will respect that outcome as well.
This post is general information drawn from public documents and reporting. It isn't legal or financial advice, and it isn't a recommendation on how to vote.
Whatever Walden decides about 2101 Taft Hwy, it will shape that stretch of the mountain for years. If you'd like to talk through what changes on Taft Highway could mean for your own home and plans, Michael Schober is glad to sit down with you. Schedule your free, pressure-free consultation.
