[{"_1":2,"_107":-5,"_108":-5},"loaderData",{"_3":4,"_26":27},"root",{"_5":6,"_17":10,"_18":19,"_20":21,"_22":10,"_23":-5,"_24":-5,"_25":10},"user",{"_7":8,"_9":10,"_11":10,"_12":-5,"_13":-5,"_14":15,"_16":-5},"roles",[],"isAuthenticated",false,"isPremium","planName","subscriptionStatus","featureFlags",{},"insightsBudget","isDevelopmentHost","userPreferences",{},"recaptchaSiteKey","6LcvOJcUAAAAAHsB-gPGfGktcRlKpH7OTIU_dMTD","isImpersonating","impersonation","affiliateStatus","isFreedomPortal","routes/v2/article/layout",{"_28":29,"_30":31},"notFound",true,"relatedArticles",[32,75,85,95],{"_33":34,"_35":36,"_37":38,"_39":40,"_41":42,"_43":44,"_45":44,"_46":47,"_48":49,"_50":51,"_52":53,"_54":55,"_56":57,"_58":59,"_60":61,"_62":63,"_64":65,"_66":67,"_68":69,"_70":71,"_72":73,"_74":73},"mediaId",6239962,"mediaKeyId","3332970-bc185083595df5ec14a77742f3a95481","parentId",3332970,"title","IDB approves $317,500 jobs incentive payment to Phillips","audioSeconds",0,"startMs",309000,"endMs","viewUrl","/Search/View?dp=1&key=3332970-bc185083595df5ec14a77742f3a95481&start=309&end=309","thumbnailUrl","https://assets.pipeline.soar.com/3332970-bc185083595df5ec14a77742f3a95481/thumbnail_309000.jpg","articleUrl","/articles/6239962/Tennessee/IDB-approves-317500-jobs-incentive-payment-to-Phillips","mediaUrl","https://secure.pipeline.soar.com/6239962-efe18519c3d052ceaa3e5c4dcc0abe2b/orig.mp4?Expires=1771187802&Signature=Y5OH~ecQb7Yu22BuGEd6SAt3Q8VMYrspFTtc-bpTl6Oa~YFeokmuAcyLF7m9G57rITzsmgTEngxasXv1RM6D9F-2VnMK81nSD6Tl7-n1s~YPhDk9TV-c-g6jHu1XjxifASZQlaSwgqieqdyHWyxdXt7ffv75ZP4GnPLY-dqDJ4-y3Pt4SEAGj1xQF653-saUhcYZK~9SxSNJNhMDmcU5m29GR1InH23vaJCHpAnm4mthjwR8rXvTuhd9MPfgzcgQJ-sR7jxuaUzYc4-yh5XYyJWx8N8UAlcS-oLpKt5zTmuvVWYAQ5vzttw4aRHU9Oa8I0hl5zXJNxu7iV3WJbfstQ__&Key-Pair-Id=KUT5TJCACFTXG","author","City of Nashville, TN","date","2025-05-16T00:48:29.563Z","article","NASHVILLE — The Industrial Development Board approved a $317,500 incentive payment May 14 for Phillips, the sixth annual payout under a seven‑year jobs grant approved in 2017.

The developer’s attorney, Ashley Harbin of Adams and Reese, told the board that 635 Phillips employees met the grant’s eligibility criteria for the year. Harbin described the eligibility rules to the board: \"Those jobs are defined as individuals that work for a Phillips entity for at least 26 weeks during the grant year at an average of 32 hours per week and are paid in excess of the most recently published average wage for Nashville,\" she said.

Staff and Metro Finance confirmed required documentation and third‑party verification (KBMG) were provided and found to be in order. The board moved to approve payment at $500 per qualifying job; the motion passed and the chair recorded an abstention.

Board members asked whether Phillips plans to expand its Nashville footprint and whether the board should adjust calculations to reflect hybrid or remote work trends. Jamari Brown, Metro’s senior director of Economic and Community Development, said current contract language reflects how employers report office presence for counting jobs; some larger contracts require an explicit in‑office requirement for jobs to qualify.

Harbin and Metro staff said they would follow up with requested wage‑level data for the board; that figure was not provided during the meeting.","mediaType","Video","parentTitle","05/14/25 Industrial Development Board","oneSentenceSummary","The Industrial Development Board approved a $317,500 annual incentive payout to Phillips on May 14, covering 635 qualifying employees under a seven‑year jobs grant originally approved in 2017.","taxTitle","Industrial Development Board Meetings, Nashville, Davidson County, Tennessee","taxId",69316,"location","Tennessee","headline","","shortSummary",{"_33":76,"_35":36,"_37":38,"_39":77,"_41":42,"_43":78,"_45":78,"_46":79,"_48":80,"_50":81,"_52":82,"_54":55,"_56":57,"_58":83,"_60":61,"_62":63,"_64":84,"_66":67,"_68":69,"_70":71,"_72":73,"_74":73},6239967,"Industrial Development Board approves $525,000 incentive payout to AllianceBernstein",1051000,"/Search/View?dp=1&key=3332970-bc185083595df5ec14a77742f3a95481&start=1051&end=1051","https://assets.pipeline.soar.com/3332970-bc185083595df5ec14a77742f3a95481/thumbnail_1051000.jpg","/articles/6239967/Tennessee/Industrial-Development-Board-approves-525000-incentive-payout-to-AllianceBernstein","https://secure.pipeline.soar.com/6239967-0a73dc667e9498c0f92fd37167e1ed66/orig.mp4?Expires=1771187802&Signature=EoVoSAzmVBChkRCevj~HpJmJH5kfCubHY7UuAFBpullsuTXVpBVmdAuu3ReNuiXbCi7BfMbTrIFHcdRgTVFdgEjcwfYlYC4CktlVklihVRir0sC~-BT2xDvNXQ9NZpaTbRJai964H4qCss8y7xo6KIfcngqvV~Cj2UdLPy9NnHNuEQL2mM7sL2xjoe0-iQYaOoEBkakXwkOmwwZh8HaGZ3m6BO2easqxuV2BoqDrTLg8axNHN8lWt49jEhOpqbwEsNo0WBX6ioNfFLyajb-6aRndmbsMzL0leV-YtbmIKqYpf2hCc~WiQw-iWmqtb1Uq5PAdLJGunTPgW10ZcXWI-g__&Key-Pair-Id=KUT5TJCACFTXG","NASHVILLE — The Industrial Development Board on May 14 approved an annual incentive grant payout to AllianceBernstein in the amount of $525,000, the second payment under a multi‑year agreement intended to support the firm's relocation and hiring in Nashville.

Carl Spruill, chief operating officer of AllianceBernstein’s Nashville operation, told the board the firm now employs roughly 1,050 people in Nashville and has committed to local workforce training programs, an associate training pipeline and community donations. \"We're proud to call Nashville our home,\" Spruill said during the presentation.

The incentive follows the structure adopted when AllianceBernstein relocated part of its operations to Nashville: the grant pays $500 per qualifying new job. Metro Legal and Metro Finance confirmed the firm provided required verification and third‑party audit materials; Metro staff told the board 50 jobs qualified for the current year’s payment.

Board members asked about in‑office reporting and remote‑work policies after the city’s \"do better\" demographic reporting requirements and the COVID era’s remote work changes. Jamari Brown, Metro senior director of Economic and Community Development, said the most recent contract language requires a reporting standard tied to employees’ office presence for counting toward the incentive. Brown cited other contracts with employers that specify a minimum in‑office requirement.

The motion to approve the $525,000 payment passed; the chair recorded an abstention.

AllianceBernstein representatives highlighted local hiring and community engagement: the company reported that 77% of its Nashville employees live in Davidson County, it provided $1.2 million in charitable donations last year and the firm runs an associate program that feeds entry‑level hires into company roles.

Action: the board approved the annual incentive grant payout of $525,000 to AllianceBernstein; the payout is the second annual payment under the original multi‑year agreement.","The Industrial Development Board approved the second of seven annual incentive payments to AllianceBernstein on May 14, authorizing $525,000 tied to 50 qualifying jobs in Nashville.",{"_33":86,"_35":36,"_37":38,"_39":87,"_41":42,"_43":88,"_45":88,"_46":89,"_48":90,"_50":91,"_52":92,"_54":55,"_56":57,"_58":93,"_60":61,"_62":63,"_64":94,"_66":67,"_68":69,"_70":71,"_72":73,"_74":73},6239971,"IDB approves up to $5 million state pass‑through grant for Rock Nashville live‑production campus",2748000,"/Search/View?dp=1&key=3332970-bc185083595df5ec14a77742f3a95481&start=2748&end=2748","https://assets.pipeline.soar.com/3332970-bc185083595df5ec14a77742f3a95481/thumbnail_2748000.jpg","/articles/6239971/Tennessee/IDB-approves-up-to-5-million-state-passthrough-grant-for-Rock-Nashville-liveproduction-campus","https://secure.pipeline.soar.com/6239971-c9a1122243372071c2e7007216906fab/orig.mp4?Expires=1771187802&Signature=IVUrYbiTR8HI-WlLqdRrQs-KW7PVykDZgRZHzBeeWTltVHz8DufTD4tGxtLtWHzV8mNzbNID0YrroyDeQ9Bn~wNqXy22ZvoTSeemDSxWC2QSjjqTqPe-xf2CevD6wP-Bo7ijSEtX-PJgQb7mVdmOpUi7JX5sRnl0iDIsNstrSEDPcw6RejklGS-dKzrCrxwwUelaMrRZIqa62FroxnofCU4SiExGqJQ2ji22DX-O94bur8UCiLIOMM0Y4ocNNzZak~SJFgXLCGsDuEVgLFZRhcBybkVBsGzTLS-c0t94bbK6~gC2WpIEi2BLHC4zV0HFVlWCSKNq5ymG~oN4Kj~NtQ__&Key-Pair-Id=KUT5TJCACFTXG","NASHVILLE — The Industrial Development Board on May 14 approved grant agreements that will allow state funds to be passed through the IDB to Rock Nashville Properties LLC to build a live‑event production campus in the Whites Creek area.

The board approved three documents: a grant agreement from the state to the IDB, a grant agreement between the IDB and Rock Nashville Properties LLC, and an accountability agreement among the state, IDB and the developer. Metro Legal told the board it had reviewed the documents and found them routine.

The campus, promoted by Rock Lititz and partner firms, is planned as a 55‑acre site with roughly 609,000 square feet of production space, two large production rehearsal arenas and 13 rehearsal studios branded in part as Soundcheck. Representatives told the board their modeling anticipates about $150 million in capital investment, roughly $30 million in annual salaries and about 500 long‑term jobs located on campus. The developer also said about 35 firms would locate on the campus to serve touring productions and technical crews.

\"This will put us in an extremely competitive place in the live entertainment production world,\" said a state representative describing the project’s role in attracting touring and large‑scale live events to the region.

The state grant under consideration is a pass‑through and, under state law, those funds must be approved by the IDB even though they are not Metro‑operated dollars. Metro Legal confirmed the grant paperwork met requirements; the board then voted to approve the contracts. The motion passed, and the chair recorded an abstention.

Workforce and community engagement were highlighted by project speakers: Rock Lititz has existing training programs (branded locally as Rockbox and an Academy of Live Technology) and officials said they will coordinate with Metro Nashville Public Schools and local training providers to create pathways into technical and production trades.

The developers told the board they anticipate a phased schedule and estimated an opening in November of the year stated in the meeting materials; they asked to be kept informed of IDB and Metro outreach so they can include the board and elected officials in a future opening event.

The IDB vote authorized acceptance and passage of the state grant (not to exceed $5,000,000) and approval of the accountability and related agreements. Metro staff said the arrangement ensures the IDB serves solely as a pass‑through for state funds rather than as a Metro appropriation.","The Industrial Development Board approved three grant documents on May 14 to pass state funds through the IDB to Rock Nashville Properties LLC for a planned 55‑acre live‑production campus in Whites Creek; developers project roughly $150 million in capital investment and about 500 jobs at build‑out.",{"_33":96,"_35":36,"_37":38,"_39":97,"_41":98,"_43":99,"_45":100,"_46":101,"_48":102,"_50":103,"_52":104,"_54":55,"_56":57,"_58":105,"_60":61,"_62":63,"_64":106,"_66":67,"_68":69,"_70":71,"_72":73,"_74":73},6239977,"Industrial Development Board approves Rivergate Mall TIF plan, sends deal to Metro Council",203,3771000,3974000,"/Search/View?dp=1&key=3332970-bc185083595df5ec14a77742f3a95481&start=3771&end=3974","https://assets.pipeline.soar.com/3332970-bc185083595df5ec14a77742f3a95481/thumbnail_3771000.jpg","/articles/6239977/Tennessee/Industrial-Development-Board-approves-Rivergate-Mall-TIF-plan-sends-deal-to-Metro-Council","https://secure.pipeline.soar.com/6239977-04065274ac3ba16703c017edb580cb70/orig.mp4?Expires=1771187802&Signature=lo0-KttHjv2T9I-K8zv9zyrWubkmeXQKNaDi-zduhZLhYMxufQAqW6lJz1pK7H6tMxq1X6C8b4tIff3iojffzXfuHijRLAR43QW8A5al0TYdY5u56zOIw-eUleckob5N~KaUU0kdM3-taUzw9JTZ3H-~4fu1f90GCfZT~LNgyWOJihRkGX4WV6diXDWP1DEVelN3HhUv9TcZMZS9aFucrKNELE0F-KEXLfedpfECYWqbJXHgvVcd5DlMblJNcG2R-9XQV1GBtRTvvV3EgghZH74UBaNkZTn88Ic9dxuhELcXnyNY5h4MYLqpJBTrrPByTRk9756bFTouACEDgJcCxQ__&Key-Pair-Id=KUT5TJCACFTXG","NASHVILLE — The Industrial Development Board voted May 14 to approve the economic impact plan and development agreement for the Rivergate Mall redevelopment, advancing a 56.49‑acre plan that would convert the failing mall into a mixed‑use neighborhood.

The resolution authorizes a tax‑increment financing (TIF) package capped at $42,000,000 in aggregate increment over 25 years; Metro staff said that amount is worth about $22,500,000 in present‑value borrowing capacity for the developer. The board voted to approve the plan, and the matter now moves to the Metropolitan Council for final approval. The chair of the board abstained from the vote.

Why it matters: Rivergate Mall has fallen to below 29% occupancy after anchor departures; the developer and Metro say the site requires major demolition, utility rework and new roads before private development can proceed. Supporters say the redevelopment would return property and sales tax revenue to the area, create jobs and add transit connections, while critics and some board members pressed for clarity on affordable housing, deadlines and how the project will be funded if neighboring Goodlettsville does not join the TIF effort.

Maris, the project's lead developer, described a mixed program of retail, restaurants, hospitality, medical office, multifamily rentals, townhomes and a sports/entertainment component. \"They shared our vision and saw the need and opportunity to create a community asset,\" said Kate Jerosh, director of real estate development for Maris.

Metro staff and the developer said the site requires more infrastructure work than a typical project: storm and utility relocations that run under the original mall footprint, extensive demolition and grading. Metro chief development officer Bob Mendez said independent review indicates the total infrastructure bill could be roughly $35 million to $40 million. Metro's TIF contribution is not intended to pay the full infrastructure tab but to help make the project financeable.

The financing mechanics Metro described: the board approved up to $42,000,000 in tax increment over 25 years as a cap. Lenders generally treat that stream as worth about $22,500,000 in upfront borrowing capacity today. Metro will retain the city’s existing share of property tax at all times and will also retain an amount equal to its debt‑service share in each year; beginning in year six Metro will retain 25% of any remaining increment above those two amounts. Metro staff emphasized they focused their financial analysis on direct, near‑term returns to Metro’s general fund rather than indirect economic multipliers.

Affordable housing: the developer agreed to pursue Low Income Housing Tax Credit (LIHTC) financing for a senior housing component. The documents require two applications for relevant tax credits; if the developer cannot secure LIHTC, the plan calls for a fallback minimum—10% of units at an affordability level tied to area median income. Jerosh said the prospective senior developer is assembling its capital stack and preparing LIHTC applications.

Transit: Maris and Metro presented a pledge to coordinate with WeGo (the region’s transit provider) to create a new circulator stop linking the site to downtown and surrounding neighborhoods. Metro staff said transit was a material factor in their assessment of public value.

New amendment: Metro and the developer agreed to a late amendment requiring the developer to notify the IDB within 10 days if any property‑tax appraisal appeals are filed for parcels in the plan area, and to provide copies of materials filed in support of those appeals to the extent state law allows. Metro legal staff said the provision seeks greater transparency about potential adjustments to tax revenues going into the TIF.

Next steps: with the board's vote, Metro staff will forward the economic impact plan and development agreement to Metropolitan Council for a May 20 hearing. If Council approves the plan, the developer will return later when it seeks to close a TIF‑backed loan; Metro staff said final loan documents must match the terms approved in the plan.

What remained contested at the meeting: several board members and community representatives asked how the project will affect nearby residents, where affordable units will be located and whether Goodlettsville's participation (or an alternative infrastructure district) will be required to complete the financing. The developer said it has opened community outreach and is pursuing multiple financing options; Maris noted the overall package would likely proceed with or without additional Goodlettsville support.

The board’s approval Wednesday does not itself commit Metro funds until subsequent budget and loan‑closing steps are completed.","The Industrial Development Board on May 14 approved an economic impact plan and development agreement for the Rivergate Mall redevelopment, clearing the first local approval for a 56-acre master plan that relies on tax increment financing and private funding to pay for extensive infrastructure and new uses.","actionData","errors"]

Article not found

IDB approves $317,500 jobs incentive payment to Phillips

Industrial Development Board approves $525,000 incentive payout to AllianceBernstein

IDB approves up to $5 million state pass‑through grant for Rock Nashville live‑production campus

Industrial Development Board approves Rivergate Mall TIF plan, sends deal to Metro Council