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Tax Break Tracker Individual Entry

Each individual entry is a single program reported by a single jurisdiction in a given fiscal year. Because we want to track the level and quality of disclosure as well as the content, the values below -- with the exception of program names -- are entered exactly as they are reported. See our user guide for more explanations.

Effected JurisdictionCity of Memphis
Jurisdiction type: Municipality
Fiscal year ending In2017
Program nameGraceland PILOT
Program purpose: Redevelopment; Tourism
Statutory authority: Tennessee Code Annotated Section 7-53-312 , Tennessee Code Annotated Section 7-53-101, Tennessee Code Annotated Section 9-23-108
Abating jurisdiction(s): Economic development Growth Engine Industrial Development Board of the City of Memphis and County of Shelby, Tennessee (EDGE)
Applicable taxesReal and Personal Property Tax
Method of abatement: Tax Increment Financing (TIF)
Provisions for recapture: (no provisions for recapture)
Gross revenue loss: $63,000
Reimbursement / offset: $0
Net revenue loss: $63,000
Type of loss: Active
Additional notes on dislosurePrograms Administered by Economic Development Growth Engine (EDGE). In addition to the TIF projects listed above, the City has three additional TIF programs administered by EDGE. The funds for these additional TIF programs are retained by the City in the Community Redevelopment fund to be used in accordance with the TIF agreement.