Memphis Proposes Incentives to Keep Graceland

Memphis has proposed incentives to keep Graceland in town after news that the home might be moved to another location, Slate.com reports. Though city officials asked said there were no plans to move one of the world’s most famous properties, a Wall Street Journal article on Sunday detailed considerations by the the Presley estate and corporation that runs Graceland to move the house to Nashville, Japan, China, or wherever else has the highest bidder. To keep Graceland around, Memphis will to give it a bigger cut of city and county property and sales tax revenues for an expansion project and feature between $194 million and $269 million in reduced taxes for stakeholders. This is not the first spat between the parties, with the conglomerate suing the city three times regarding construction of an arena on the property that would be funded by taxpayers.

          | TBA Law Blog