Authorize IDB to negotiate PILOT payment from Smith and Hammaker for Summit Hill Dr

A Resolution authorizing the Industrial Development Board of the City of Knoxville to negotiate and accept from Smith and Hammaker Enterprises, LLC or its affiliates payments in lieu of ad valorem taxes with respect to real and personal property located at 901 E. Summit Hill Drive, Parcel ID No. 095 AJ 003, and finding that such payments are deemed to be in furtherance of the public purposes of the Board as defined in 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 Smith and Hammaker for Summit Hill Dr” by a vote of 8–0.

Unanimous Adopted 8-0-0-1

Part of Developer tax breaks (PILOTs)

Motion to approve Resolution R-249-2017

Moved by Brenda Palmer · 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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