City Council · March 19, 2024
R-93-2024
Authorize IDB to accept payments in lieu of taxes for specified properties
A Resolution authorizing the Industrial Development Board of the City of Knoxville to negotiate and accept from Knox OnCore, LLC, or an affiliate thereof, payments in lieu of ad valorem taxes with respect to real property located at the following locations: 0 Clark Street, 0 May Avenue, 0 Richards St, 0 W. Fifth Avenue, 0 W. Fourth Avenue, and 1000 May Avenue, and finding that such payments are deemed to be in furtherance of the public purposes of the Board as defined in Tennessee Code Annotated Section 7-53-305.(Requested by Administration)
See this item across every meeting →On March 19, 2024, the City of Knoxville, TN City Council adopted “Authorize IDB to accept payments in lieu of taxes for specified properties” by a vote of 7–1.
Part of Developer tax breaks (PILOTs)
Motion to approve Resolution R-93-2024
Moved by Gwen McKenzie · seconded by Lauren Rider
Topics: Budget & taxes
The vote as recorded
Aye · 7
Absent · 1
No · 1
Public forum
The clerk’s minutes note 4 speakers at the public forum for this meeting.
A sign-up count from the minutes — not a measure of overall public opinion.
Minutes of the 19 March 2024 meeting — page 11
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