Authorize IDB to negotiate PILOT with Elmington Capital Group

A Resolution authorizing the Industrial Development Board (“IDB”) of the City of Knoxville to negotiate and accept from Elmington Capital Group, or an affiliate thereof (“Sponsor”), payments in lieu of ad valorem taxes (“PILOT”) with respect to real property located at 1585 Coleman Road, Knoxville, TN and having a parcel ID of 107GE010 (“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.