Knoxville grants three TIF grants to downtown businesses

Knoxville businessman Keith Vaughn is expanding and improving his downtown properties.

Two of the three TIF grants approved during last night’s Knoxville City Council meeting were for properties purchased by Vaughn, who also owns the Knoxville Mercantile and recently constructed Pioneer Plaza.

Properties at 222 and 223 East Main Street, both near the western-themed plaza, were approved for separate $40,000 TIF grants.

Vaughn told the council people have expressed interest in opening a coffee shop in one property and a fitness center in the other, once repairs and renovations are complete.

Following the meeting, Mayor Pro Tem Dennis Maurer told WGIL he has seen a lot of success stories come from TIF grants.

“The TIF provides some incentive to the owner to keep their property up in some cases,” Maurer said. “At least that’s how I see us using that tool is just to provide some motivation for individuals to keep their spaces fresh so that it will attract businesses.”

The third TIF grant approved last night was for about $35,000 to Locke’s Roofing and Siding.

Also approved was an amendment to the city’s liquor license that would allow alcohol to be sold during events at the Pioneer Plaza Community Center.

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