Johnson City Development Authority to buy John Sevier Building, relocate residents

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The Johnson City Development Authority (JCDA) Board of Directors voted Friday to buy the John Sevier Building for $4.1 million and the board has plans to eventually move residents from the complex.

“The John Sevier Building is a key part of our community’s history and is a transformational project in the redevelopment of downtown, so it’s important that it not fall into a state of disrepair,” said JCDA Board President Robert Williams. “The JCDA is committed to making this a win-win for our community and the facility’s current residents by working with the property manager, developers and Housing and Urban Development over the next two to three years to ensure they are relocated to safe, clean and affordable housing.”

Tax increment financing will be requested for the purchase loan, the board added. Following the placement of the John Sevier residents, the JCDA will seek developers to redevelop the property.

“This is an exciting initiative for Johnson City,” Williams said. “We have the opportunity to provide improved housing accommodations for 150 of our citizens, while creating a vibrant, attractive new economic driver downtown.”

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