Authorize PILOT payments for property at 516 and 0 W. Vine Avenue.

A Resolution authorizing the Industrial Development Board of the City of Knoxville to negotiate and accept from City Summit LLC, or an affiliate thereof, payments in lieu of ad valorem taxes (“PILOT”) with respect to certain real property located at 516 and 0 W. Vine Avenue, Knoxville, Tennessee, 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 Urban Design and Development)

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On October 15, 2024, the City of Knoxville, TN City Council adopted “Authorize PILOT payments for property at 516 and 0 W. Vine Avenue.” by a vote of 7–1.

Split Adopted 7-1-0-1

Part of Developer tax breaks (PILOTs)

A Resolution authorizing the Industrial Development Board to negotiate and accept PILOT payments

Moved by Gwen McKenzie · seconded by Tommy Smith

Topics: Budget & taxes

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The vote as recorded

Aye · 7

Charles Thomas District 5 Lynne Fugate At-Large Seat A Debbie Helsley At-Large Seat B Tommy Smith District 1 Andrew Roberto District 2 Seema Singh District 3 Gwen McKenzie District 6

No · 1

Amelia Parker At-Large Seat C

Absent · 1

Lauren Rider District 4

Minutes of the 15 October 2024 meeting — page 5

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