Authorize IDB to negotiate PILOT payment from Twofold Purchase GP for McCalla Ave

A Resolution authorizing the Industrial Development Board of the City of Knoxville to negotiate and accept from Twofold Purchase GP payments in Lieu of Ad Valorem Taxes with respect to property located at 1150 McCalla Avenue, Parcel ID No. 095AJ003, and finding that such payments are deemed to be in the furtherance of the public purposes of the Board as defined in the Tennessee Code Annotated § 7-53-305.

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On August 1, 2017, the City of Knoxville, TN City Council adopted “Authorize IDB to negotiate PILOT payment from Twofold Purchase GP for McCalla Ave” by a vote of 8–0.

Unanimous Adopted 8-0-0-1

Part of Developer tax breaks (PILOTs)

Motion to approve Resolution R-248-2017

Moved by Finbarr Saunders · seconded by Nick Della Volpe

Topics: Budget & taxes

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The vote as recorded

Aye · 8

Nick Pavlis District 1 Duane Grieve District 2 Brenda Palmer District 3 Nick Della Volpe District 4 Mark Campen District 5 Daniel T. Brown District 6 George C. Wallace At-Large Seat A Finbarr Saunders At-Large Seat C

Absent · 1

Marshall Stair At-Large Seat B

Minutes of the 1 August 2017 meeting — page 11

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