Knoxville City Council approves more than $1m in grants

Knoxville City Council approves more than $1m in grants for developer

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The developer bought the former J.C. Penney property last year for about $1 million dollars. The developer bought the former J.C. Penney property last year for about $1 million dollars.

Knoxville (WATE) – The Knoxville City Council approved Tuesday night a tax break worth more than $1 million dollars for developers renovating several downtown Knoxville properties. 

Developer Hatcher Hill & Associates is spending $7 million dollars on properties at 412, 414, and 416 Gay Street, which includes the former J.C. Penney building.

The developer bought the former J.C. Penney property last year for about $1 million dollars. 

Nearly $400,000 in grants have already been approved. 

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