Authorize IDB to negotiate PILOT payment from Twofold Purchase GP for World's Fair Park Dr

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 real property located at 701 World's Fair Park Drive, Parcel ID No. 094 LB 002, 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 Twofold Purchase GP for World's Fair Park Dr” by a vote of 8–0.

Unanimous Adopted 8-0-0-1

Part of Developer tax breaks (PILOTs)

Motion to approve Resolution R-251-2017

Moved by Duane Grieve · seconded by Finbarr Saunders

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 12

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