2024-06-07T13:28:00-05:00 2023-06-30 275360847 CROSSLIN PLLC 3803 BEDFORD AVENUE SUITE 201 NASHVILLE TN 37215 990 2022-07-01 581966772 THE DEVELOPMENT CORPORATION OF KNOX COUNTY DEVE 8655465887 17 MARKET SQUARE 201 KNOXVILLE TN 379021405 MIKE ODOM PRESIDENT & CEO 8655465887 2024-06-07 1 MIKE ODOM 999009999 0 RODNEY C BROWER P00168898 6153205500 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z MIKE ODOM 17 MARKET SQUARE 201 KNOXVILLE TN 379021405 632758 0 X WWW.KNOXDEVELOPMENT.ORG X 1991 TN THE DEVELOPMET CORPORATION WILL REPRESENT THE GREATER KNOXVILLE AREA IN MANAGING AND ALLOCATING LAND AND OTHER RESOURCES TO STRATEGICALLY PROMOTE LONG-TERM QUALITY BUSINESS DEVELOPMENT SPECIFICALLY, THE DEVELOPMENT CORPORATION WILL WORK WITH INTERESTED BUSINESSES, CREATE BUSINESS AND INDUSTRIAL LOCATION OPPORTUNITIES, ASSIST EXISTING BUSINESSES WITH LAND AND TRAINING NEEDS, FOSTER ENTREPRENEURIAL JOB CREATION, INCLUDING MANAGEMENT OF KNOX COUNTY'S BUSINESS INCUBATOR, FAIRVIEW TECHNOLOGY CENTER, AND ENSURE ALLOCATION OF RESOURCES FOR THE ENHANCEMENT OF THE LONG-TERM ECONOMIC CLIMATE FOR KNOXVILLE AND KNOX COUNTY. 13 13 1 0 222210 0 871799 410548 334427 215483 487117 6727 0 0 1693343 632758 0 0 0 0 206488 50120 0 0 0 802795 2068892 1009283 2119012 684060 -1486254 44037892 42516150 685009 649521 43352883 41866629 X THE DEVELOPMENT CORPORATION WILL REPRESENT THE GREATER KNOXVILLE AREA IN MANAGING AND ALLOCATING LAND AND OTHER RESOURCES TO STRATEGICALLY PROMOTE LONG-TERM QUALITY BUSINESS DEVELOPMENT SPECIFICALLY, THE DEVELOPMENT CORPORATION WILL WORK WITH INTERESTED BUSINESSES, CREATE BUSINESS AND INDUSTRIAL LOCATION OPPORTUNITIES, ASSIST EXISTING BUSINESSES WITH LAND AND TRAINING NEEDS, FOSTER ENTREPRENEURIAL JOB CREATION, INCLUDING MANAGEMENT OF KNOX COUNTY'S BUSINESS INCUBATOR, FAIRVIEW TECHNOLOGY CENTER, AND ENSURE ALLOCATION OF RESOURCES FOR THE ENHANCEMENT OF THE LONG-TERM ECONOMIC CLIMATE FOR KNOXVILLE AND KNOX COUNTY. 0 0 1936986 222210 TDC IS CHARGED WITH THE RESPONSIBILITY OF ENSURING THAT KNOX COUNTY HAS LAND RESOURCES AVAILABLE FOR POTENTIAL PROSPECTS. TDC CURRENTLY OWNS OR MANAGES ACREAGE AT CENTERPOINT BUSINESS PARK (APPROXIMATELY 6 ACRES), EASTBRIDGE BUSINESS PARK (APPROXIMATELY 195 DEVELOPABLE ACRES), WESTBRIDGE BUSINESS PARK (APPROXIMATELY 10 ACRES), PELLISIPPI CORPORATE CENTER (APPROXIMATELY 77 DEVELOPABLE ACRES), HARDIN BUSINESS PARK (APPROXIMATELY 12 DEVELOPABLE ACRES), KARNS VALLEY BUSINESS PARK (APPROXIMATELY 82 DEVELOPABLE ACRES), AND MIDWAY BUSINESS PARK (APPROXIMATELY 337 ACRES). TDC MAKES THIS LAND AVAILABLE TO NEW BUSINESSES OR FOR THE EXPANSION OF EXISTING BUSINESSES IN ACCORDANCE WITH ITS EXEMPT PURPOSE. TDC IS CONTINUALLY LOOKING FOR LAND TO PURCHASE FOR FUTURE BUSINESS PARKS. KEY COMPONENTS OF THIS SERVICE INCLUDE PROPERTY DEVELOPMENT, MANAGEMENT, AND MARKETING AND SALE OF PROPERTIES. TDC ADDITIONALLY OWNS APPROXIMATELY 68 ACRES NORTH OF KARNS HIGH SCHOOL AND IS CURRENTLY WORKING ON THE DEVELOPMENT OF THIS PROPERTY INTO KARNS VALLEY BUSINESS PARK. THE PROGRAMS, SERVICES AND ACTIVITIES THAT THE CORPORATION UNDERTAKES AND/OR MANAGES ARE AIMED AT FACILITATING CAPITAL INVESTMENT AND JOB CREATION IN KNOX COUNTY. IN ADDITION TO THE ACTIVITIES AND PROGRAMS THE TDC HAS UNDER ITS DIRECT PURVIEW, IT ALSO PROVIDES STAFF AND MANAGEMENT SERVICES TO SEVERAL QUASI-GOVERNMENTAL BOARDS THAT ALSO PROVIDE UNIQUE PROGRAMS AND SERVICES ON THE COUNTY AND CITY'S BEHALF TO PROMOTE JOB RETENTION AND GROWTH, INCREASING CAPITAL INVESTMENT IN KNOX COUNTY, AND UNDERTAKING SPECIAL PROJECTS FOR THE BENEFIT OF THE CITIZENS OF KNOX COUNTY. 1936986 1 1 0 0 0 0 0 0 0 0 1 0 1 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 1 0 0 0 0 0 0 0 0 0 X 13 13 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 TN X KAREN KAKANIS 8655465887 17 MARKET SQUARE 201 KNOXVILLE TN 379021405 X M DOUGLAS CAMPBELL JR VICE CHAIRMAN 2.00 X 0 0 0 GEORGE H HEINS III CHAIRMAN 2.00 X 0 0 0 NANCY BARGER DIRECTOR 2.00 X 0 0 0 CAROLYN FAIRBANK SECRETARY/TREASURER 2.00 X 0 0 0 INDYA KINCANNON DIRECTOR 2.00 X 0 0 0 LOUISE FRAZIER DIRECTOR 2.00 X 0 0 0 CHARLES MORRIS DIRECTOR 2.00 X 0 0 0 GLENN JACOBS DIRECTOR 2.00 X 0 0 0 COURTNEY DURRETT DIRECTOR 2.00 X 0 0 0 WILLIAM F FOX DIRECTOR 2.00 X 0 0 0 TERRY MOSLEY DIRECTOR 2.00 X 0 0 0 MAYOR RON WILLIAMS DIRECTOR - NON VOTING 2.00 X 0 0 0 TERRY HILL VICE CHAIRMAN 2.00 X 0 0 0 LARSEN JAY DIRECTOR 2.00 X 0 0 0 MIKE ODOM INTERIM PRESIDENT & CEO 46.00 X 0 0 0 0 0 0 0 0 0 0 MBP FACILITIES 1310 KIMBERLIN HEIGHTS ROAD KNOXVILLE TN 37920 FACILITY PERFORMANCE CONSULTING 271400 1 77000 333548 410548 RENTAL AND MANAGEMENT 532000 215483 215483 215483 6727 6727 632758 0 222210 0 33648 23553 10095 2024 1418 606 10765 7535 3230 3683 2578 1105 204 143 61 51507 36055 15452 16814 11770 5044 1009 706 303 29495 20646 8849 CONVEYANCE OF WASTEWATE 1512268 1512268 PROPERTY EXPENSE 374035 261823 112212 OPERATING EXPENSES 63869 44708 19161 RENT 19691 13783 5908 2119012 1936986 182026 0 3229329 3303309 257210 106192 32340 22196 129345 129345 1009 0 40518004 39084453 44037892 42516150 92830 57826 141695 141695 450000 450000 484 0 685009 649521 X 43216477 41750709 136406 115920 43352883 41866629 44037892 42516150 -1486254 0 X 0 1 X 0 0 X 903290 908800 908800 871799 410548 4003237 903290 908800 908800 871799 410548 4003237 4003237 315103 199502 97937 26769 6727 646038 4649275 0.86100 0.86260 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 27041 27041 0 102304 102304 0 0 LAND HELD FOR RESALE 39084453 C 39084453 X 632758 0 632758 0 632758 2119012 0 2119012 0 2119012 PART X, LINE 2: TDC RECOGNIZES A TAX CONTINGENCY WHEN IT IS PROBABLE THAT A LIABILITY HAS BEEN INCURRED AS OF THE DATE OF THE FINANCIAL STATEMENTS AND THE AMOUNT OF THE LOSS CAN BE REASONABLY ESTIMATED. THE AMOUNT RECOGNIZED IS SUBJECT TO ESTIMATES AND MANAGEMENT'S JUDGMENT WITH RESPECT TO THE LIKELY OUTCOME OF ANY UNCERTAIN TAX POSITION. THE AMOUNT THAT IS ULTIMATELY SUSTAINED FOR AN INDIVIDUAL UNCERTAIN TAX POSITION OR FOR ALL UNCERTAIN TAX POSITIONS IN THE AGGREGATE COULD DIFFER FROM THE AMOUNT RECOGNIZED. ALTHOUGH THE TAX YEARS ENDING JUNE 30, 2020 THROUGH JUNE 30, 2023 REMAIN OPEN FOR EXAMINATION, IT IS MANAGEMENT'S OPINION THAT NO SIGNIFICANT UNCERTAIN TAX POSITIONS EXIST AT JUNE 30, 2023. FORM 990, PART VI, SECTION B, LINE 11B IT IS PRESENTED FOR REVIEW AT A REGULAR BOARD MEETING WITH A QUORUM PRESENT BEFORE IT IS FILED. FORM 990, PART VI, SECTION B, LINE 12C THE ORGANIZATION REGULARLY AND CONSISTENTLY MONITORS AND ENFORCES COMPLIANCE WITH CONFLICT OF INTEREST POLICY BY REQUIRING OFFICIALS AND EMPLOYEES TO ANNUALLY DISCLOSE PERSONAL INTERESTS IN MATTERS THAT AFFECT OR WOULD APPEAR TO AFFECT THE EXERCISE OF DISCRETION OFFICIALS OR EMPLOYEES WITH THE RESPONSIBILITY TO VOTE MUST ALSO DISCLOSE BEFORE THE VOTE ANY PERSONAL INTEREST THAT AFFECTS OR WOULD APPEAR TO AFFECT THE OFFICIAL'S OR EMPLOYEE'S VOTE ON THE MEASURE IN ADDITION, THE OFFICIAL OR EMPLOYEE MAY, TO THE EXTENT ALLOWED BY LAW, RECUSE HIMSELF OR HERSELF FROM VOTING ON THE MEASURE. FORM 990, PART VI, SECTION B, LINE 15 THE CORPORATION'S EXECUTIVE COMMITTEE SHALL ANNUALLY EVALUATE THE PRESIDENT ON HIS/HER PERFORMANCE, AND ASK FOR HIS/HER INPUT ON MATTERS OF PERFORMANCE AND COMPENSATION. THE EXECUTIVE COMMITTEE SHALL PRESENT THE RESULTS OF EVALUATION AND THE EXECUTIVE COMMITTEE'S COMPENSATION RECOMMENDATIONS TO THE FULL BOARD OF DIRECTORS THE PRESIDENT SHALL ANNUALLY EVALUATE THE PERFORMANCE AND ESTABLISH COMPENSATION FOR THE CORPORATION'S EMPLOYEES UNDER HIS/HER SUPERVISION WITH THE PARAMETERS OF THE APPROVED BUDGET. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST IN ADDITION, THESE DOCUMENTS ARE DISCUSSED AT MEETINGS OF THE ORGANIZATION'S BOARD OF DIRECTORS, WHICH ARE OPEN TO THE PUBLIC.