Authorize IDB to accept payments in lieu of taxes for specified properties

A Resolution authorizing the Industrial Development Board of the City of Knoxville to negotiate and accept from Knox OnCore, LLC, or an affiliate thereof, payments in lieu of ad valorem taxes with respect to real property located at the following locations: 0 Clark Street, 0 May Avenue, 0 Richards St, 0 W. Fifth Avenue, 0 W. Fourth Avenue, and 1000 May Avenue, 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 Administration)

Source: official minutes (PDF) for March 19, 2024.