Questions about recent TIF Agreement

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July 6, 2012

Questions about recent TIF Agreement

Kentin Waits Journal-Express The Zope Gazette Fri Jul 06, 2012, 08:48 AM CDT

Knoxville —

I wonder what, exactly, were the criteria used in defining the new Cobblestone Hotel Group's proposed hotel site as an area in need of economic development. Was it the nearby hospital, the assisted living facility, the relatively new DQ and Subway, Fareway, or the nearby Walmart? If that's the area in town most in need of economic development, then we have a poorly-traveled city council.

Additionally, what do we get in return for this $550,000 free-pass on property taxes besides a couple dozen low-wage jobs? More customers for the national fast-food chains two weeks out of every year? Sounds like a deal only a business-owner could love. If the Cobblestone Group (or any business, for that matter) wants to build in a community, it seems like the natural draw of a steady customer base combined with low competition would do the trick - without the need for tax gimmes that further stress the local coffers.

Kentin Waits

Knoxville

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