published Thursday, December 8th, 2011

Businessman Vital won't run for mayor


by Cliff Hightower
  • photo
    Staff photo by Dan Henry/Chattanooga Times Free Press - Greg Vital, the developer of Greenbriar Cove, speaks about the growth of the retirement community in Collegedale while standing in front of Garden Plaza of Greenbirar Cove.

Local businessman Greg Vital said Wednesday he has decided not to run for mayor if a recall election takes place in August 2012.

"My focus needs to be on my company and my family," he said.

Vital is president and CEO of Independent Healthcare Properties LLC, which operates Morning Pointe assisted living homes. He has also been known for his work in land conservation.

He said several weeks ago he was considering a run for mayor in the recall election. But he said Tuesday he does not have time to get his business interests in order to focus on an election.

He said he is still not ruling out a March 2013 mayoral run if Mayor Ron Littlefield is able to stop a recall election from occurring. Littlefield's four-year term will be up then.

The recall election was set last month by the Hamilton County Election Commission when the body ratified recall petitions. The recall effort has been mired in legal battles with Littlefield suing to stop the recall from taking place.

Vital said Wednesday no potential candidates who may run in an upcoming election swayed his decision.

Vital, who owns numerous properties across Chattanooga, as well as a farm in Georgetown, said he recently changed his voting registration card from Hamilton County to Chattanooga and is currently living on Missionary Ridge.

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LarryRose said...

In the course of his long and illustrious business career, Mr. Vital has built up a billion dollar fortune.

THE BILLIONS ARE THERE

Mr. Vital has been selling houses like hotcakes. Primarily to senior citizens. “Greenbriar Cove is a master planned retirement community specially designed for active adults ages 55 and older.” (http://www.seegreenbriarcove.com/)

And stacking the profits sky high.

16 Then He spoke a parable to them, saying: “The ground of a certain rich man yielded plentifully. 17 And he thought within himself, saying, ‘What shall I do, since I have no room to store my crops?’ 18 So he said, ‘I will do this: I will pull down my barns and build greater, and there I will store all my crops and my goods. 19 And I will say to my soul, “Soul, you have many goods laid up for many years; take your ease; eat, drink, and be merry.”’ Luke 12 NKJV

BILLIONAIRE DEVELOPER TAKES HIS EASE

Mr. Vital bought many houses. Like the luxurious mansion once owned by Dixie Carter. (John Shearer, Dixie Carter Owned House On Lake Chickamauga, The Chattanoogan, April 17, 2010) And so he made merry.

You’ll be thinking that’s all well and good. But how does this fit in with Mr. Vital’s philanthropic thrust?

TENNESSEE LAW FACILITATES MR. VITAL’S PHILANTHROPY

T.C.A., § 62-13-110. Penalties. —

(a) (1) Any person acting as a broker, affiliate broker, time-share salesperson or acquisition agent without first obtaining a license commits a Class B misdemeanor. (2) A corporation that violates subdivision (a)(1) is ineligible to obtain a license for a period of one (1) year from the date of conviction of the offense. (b) Any person acting as a broker, affiliate broker, time-share salesperson or acquisition agent without first obtaining a license who has received any money or the equivalent of money as a fee, commission, compensation or profit by or in consequence of a violation of this chapter, is, in addition, liable for a penalty of no less than the amount of the sum of money so received and no more than three (3) times the sum so received, as may be determined by the court, which penalty may be recovered in any court of competent jurisdiction by any person aggrieved.

You see, Mr. Vital doesn’t have a real estate license. But sells houses anyway

GIVING BACK TO THE COMMUNITY (WITH A LITTLE HELP)

And now anyone who bought a house in, for example, Greenbriar Cove, after, for example, seeing Mr. Vital’s promotional signs at the subdivision, or reading his marketing materials at www.seegreenbriarcove.com or www.choosechattanooga.com, is now eligible for philanthropy in the amount of 3 times the profit Mr. Vital made on the deal.

And everyone wins. Mr. Vital enjoys the satisfaction of philanthropy, as he gives away a small sliver of his billion-dollar fortune. The senior citizens who bought his wetlands houses should recover more than enough to pay for sump pumps, waterproofing, fans, replacing rotten wood, and drainage.

September 13, 2012 at 1:31 p.m.
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