Authorize IDB to negotiate PILOT with Edgewood APTS LLC

A Resolution authorizing the Industrial Development Board (“IDB”) of the City of Knoxville to negotiate and accept from Edgewood APTS LLC, a subsidiary of Southeast Capital, LLC (“Sponsor”), payments in lieu of ad valorem taxes (“PILOT”) with respect to real property located at 2501 Edgewood Avenue, Knoxville, TN and having a parcel ID of 070IJ001 (“Property”), 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)

Source: official minutes (PDF) for April 29, 2025.