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Alexander Inn renovation project may soon get a tax break

4:47 PM, Oct 12, 2012   |    comments
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A renovation project at Oak Ridge's Alexander Inn may soon get a tax break from the city.

Developer Rick Dover plans to invest up to $5 million to turn the World War II era hotel into an assisted living center for seniors.

He's also asking the city for an incentive program to offset that cost. It's called a pilot program, or payment in lieu of taxes.

Thursday night, the Industrial Development Board gave its approval for the program and is asking the city council to do the same. At the current tax rate, the IDB says this break would not cost taxpayers anything.

The city council's next meeting is November 12.

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