Knoxville pledges up to $10M annually from sales tax proposal for affordable housing

Knoxville pledges up to $10M annually from sales tax proposal for affordable housing

KNOXVILLE, Tenn. (WATE) — If Knoxville voters ultimately approve a proposed local option sales tax increase next month, the city has pledged to invest up $10 million annually from the new revenue towards affordable housing. The Knoxville City Council unanimously approved a resolution on Wednesday designating 22% or up to $10 million of new revenue from the proposed increase to the Knoxville Affordable Housing Fund. Knoxville businesses step…