IDB to negotiate PILOT with Knoxville Supreme Court for residential complex

A Resolution authorizing the Industrial Development Board of the City of Knoxville to negotiate and accept from Knoxville Supreme Court, LLC payments in lieu of ad valorem taxes with respect to a portion of the real property located at 719 Locust Street to be redeveloped for a multi-family residential complex (Parcel ID 094MC01501), 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 Office of Redevelopment)

Source: official minutes (PDF) for May 21, 2019.