Tue
Jul 29 2008
07:35 am
World's most expensive cafeteria coming to Downtown Knoxville
By: R. Neal

KNS: County OKs TIF funds for project

After a lengthy discussion, commission on a voice vote approved the $814 million tax increment financing for developer John Craig and partners in 500 Block LLC - funding that will be considered by the Knoxville City Council tonight.

Say what?

Topics:
Anonymous's picture

Is John Craig

Submitted by Anonymous (not verified) on Tue, 2008/07/29 - 7:37am.

related to Rachel Craig? Spouses?

Rachel's picture

spouses?

Submitted by Rachel on Tue, 2008/07/29 - 2:17pm.

No. But Tom McAdams once complimented me on something my "husband" (meaning John) had said. It was pretty funny.

As far as I know, John & I are not related either. Nor am I related (at least closely) to the Candoro Craigs, although my family has been in Knox County since the early 1800s. My I-forget-how-many-greats grandmother who died in 1822 is buried in the cemetery at First Prez downtown, which I find way cool. Also, my family once owned a farm at "the mouth of Third Creek." They sold it and moved to Ebenezer. Too bad they didn't hold onto it longer.

And that's more info about Craigs that any of you really wanted to know.

R. Neal's picture

Don't know about that, but

Submitted by R. Neal on Tue, 2008/07/29 - 7:46am.

Don't know about that, but whoever it is, he's FLUSH! An almost billion dollar downtown development! Wow!

Stan G's picture

Randy

Submitted by Stan G on Tue, 2008/07/29 - 7:58am.

You might want to recount the zeros.

I'll let Rachel respond to the relationship question. Definitely not spouses; neither is John related to the Craigs of Candora Marble -- that's according to John

R. Neal's picture

Stan, I kept looking for a

Submitted by R. Neal on Tue, 2008/07/29 - 8:15am.

Stan, I kept looking for a decimal when I saw it on the front page. Made sure I had on the right glasses. Held it under a lamp for closer inspection. Yep, says $814 million, in print and online. I realize it's an error, but I found it amusing (thus the 'humor' tag).

Stan G's picture

It appears they corrected

Submitted by Stan G on Tue, 2008/07/29 - 8:39am.

It appears they corrected the online edition after you posted; when I clicked on your link, they had changed the amount to $814,000. I've since read the print edition which does indeed read $814 million.

R. Neal's picture

Yes, it's changed. The above

Submitted by R. Neal on Tue, 2008/07/29 - 8:59am.

Yes, it's changed. The above quote is a copy/paste. They really should note the correction when they do that.

At any rate, it's puzzling how a copy editor or proofreader didn't think that nearly a billion dollars for a downtown cafeteria and retail shop might be a typo or something. Or at least make it the front page above the fold headline, because that would certainly be news!

ASummers's picture

S&W TIF

Submitted by ASummers (not verified) on Tue, 2008/07/29 - 2:17pm.

Last nights TIF was approved, and it meets the requirements for a blighted piece of property.

Mr. Moore keeps pushing the question of "what maximum dollar amount can we give, and how many TIF's can we give".
Every peice of property has to be looked at individually to see if it meets the requirements. You can't put a dollar amount or a quantity amount on TIF's.

Mr. Moore did have one good point. In Halls there is the old Black Oak Motel site. It is a very large site that needs developing. And, it would meet blighted standards. You would have to displace a few mobile home site renters, and there may be troubles with traffic in and out of the development. But, it would qualify on blight - unlike the pasture that Mr. Graham wants to put a Lowes on.

For more on TIF's, go to...
(link...)

knoxvegas99's picture

At any rate, it's puzzling

Submitted by knoxvegas99 on Tue, 2008/07/29 - 5:56pm.

At any rate, it's puzzling how a copy editor or proofreader didn't think that nearly a billion dollars for a downtown cafeteria and retail shop might be a typo or something.

Not really, Randy. The KNS is sometimes number-challenged.

Larry Van Guilder

Factchecker's picture

They're probably kids, many

Submitted by Factchecker on Tue, 2008/07/29 - 8:19pm.

They're probably kids, many of whom don't know how to calculate 10%.

But Tom McAdams once...

Oh. Of the shoe store! Tell him I need a new set of boots.

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