Authorize IDB to negotiate payments in lieu of taxes for 430 S. Gay St.

A resolution authorizing the Industrial Development Board of the City of Knoxville (the "Board") to negotiate and accept from John Johnson payments in Lieu of Ad Valorem Taxes with respect to property located at 430 S. Gay Street and finding that such payments are deemed to be in furtherance of the public purposes of the Board as defined in the Tennessee Code Annotated Section 7-53-305.(Requested by Office of Redevelopment)

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On October 2, 2012, the City of Knoxville, TN City Council adopted “Authorize IDB to negotiate payments in lieu of taxes for 430 S. Gay St.” by a vote of 9–0.

Unanimous Adopted 9-0-0-0

Part of Developer tax breaks (PILOTs)

APPROVE RESOLUTION NO. R-275-2012

Moved by Duane Grieve · seconded by Brenda Palmer

Topics: Budget & taxes

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The vote as recorded

Aye · 9

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 Marshall Stair At-Large Seat B Finbarr Saunders At-Large Seat C

Minutes of the 2 October 2012 meeting — page 9

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