Kingsport BMA approves financial support for Dobyns-Taylor redevelopment

The Kingsport Board of Mayor and Aldermen approved financial support for the Dobyns-Taylor warehouse redevelopment project in downtown Kingsport. Board members approved two resolutions related to the project Tuesday night. One authorized a contribution to the Economic Development Board of Kingsport in an amount not to exceed $9.25 million and the second established tax increment financing for the project. A developer is proposing redeveloping the historic and currently vacant property into a 60-room boutique hotel with a restaurant and event venue. City officials say, the project would be a $10 million investment in downtown that would create 40 temporary construction jobs and 50 permanent jobs. The tax increment financing proposal will need to be approved by the Sullivan County Commission and is on the agenda for the commission’s meeting Thursday.