Home Activities Publications Resources Login About Us Contact
Next Meeting: Reflections

Join RET using PayPal


Printer Friendly

Calendar

Upcoming Book Club Selections

Join Our Mailing List
Last Chance Demonstration to Save the Candy Factor
This demonstration is an attempt to stop the City Council from approving Tax Increment Financing, an essential part of the Candy Factory development deal.

WHAT: City Council vote on Tax Increment Financing for the purshase by Kinsey, Probasco and Hays preceded by a pre-City Council Meeting Rally and March from the Candy Factory to the City Council Building.

WHERE: The Candy Factory at the corner of Clinch Avenue and World's Fair Park Drive.

WHEN: City Council meeting on Tuesday, January 17th at 7PM at the City County Building. Rally and March also on Tuesday, January 17th at 5:45PM at the Candy Factory.

WHAT: City Council vote on Tax Increment Financing for the purshase by Kinsey, Probasco and Hays preceded by a pre-City Council Meeting Rally and March from the Candy Factory to the City Council Building.

WHERE: The Candy Factory at the corner of Clinch Avenue and World's Fair Park Drive.

WHEN: City Council meeting on Tuesday, January 17th at 7PM at the City County Building. Rally and March also on Tuesday, January 17th at 5:45PM at the Candy Factory.

BACKGROUND: On August 16, 2005, Knoxville City Council voted to accept a redevelopment proposal, which includes the Candy Factory and the Victorian Houses on 11th Street, submitted by Kinsey, Probasco and Hays, a private development firm.

On August 30, 2005, the Council voted to have KCDC prepare a redevelopment plan that included Tax Increment Financing. To quality for TIF the Candy Factory and the Victorian Houses have to be declared legally blighted under state law.

The expected impact of TIF for the Candy Factory alone, over a 15 year period, is estimated by KCDC at $1,081,500 for the city and $1,296,750 for the county. That results in costing city and county tax payers a total of $2,378,250 over the 15 years.

Save the Candy Factory opposes the sale, strongly questions the notion that the redevelopment area is blighted and urges City Council to reject Tax Increment Financing for the project due to the costs of the project.

Rally begins at 5:45PM in front of the Candy Factory, proceeding to City Council at 6:30PM. Participants are strongly encouraged to attend City Council meeting at 7PM. Participants are encouraged to travel light in order to expedite passing through the security check point at the City County Building.



Posted by mjb
Jan. 11, 2006