KINGSPORT — Kingsport is interested in purchasing a piece of property for economic development purposes.
But city and elected officials are not saying on the record which property the Model City has its eyes on.
During its regular meeting Tuesday night, the Board of Mayor and Aldermen approved a measure that would allow for a potential contribution to the Kingsport Economic Development Board of up to $60,000 a year for up to 10 years.
The KEDB is a separate arm of the city that acquires, leases and sells properties on behalf of the city, along with managing two Kingsport business parks — Brookside and the Regional Service Park.
According to the measure, the funds could be used to assist in the acquisition of property by the KEDB for the purpose of economic development, industrial development or both.
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