The Sullivan County Commission voted Monday to approve tax increment financing (TIF) for a project known as The Blake at Riverbend.
The move authorizes the Kingsport Housing and Redevelopment Authority (KHRA) to implement an amended, expanded redevelopment plan for the already established Riverbend Redevelopment District in order to include the parcel of land on which The Blake — an assisted living facility — is proposed to be constructed, as well as clearing the way for the use of TIF.
City staff estimate the total direct and indirect economic impact of The Blake’s construction, operations and spending by its eventual residents at $24.8 million, including support for 157 jobs.
