The Knoxville City Council met in regular session Monday. The council held a public hearing regarding the disposal of property located at 418 W. Rock Island. Following the public hearing the council approved a resolution directing the sale of the property contingent on the developer of the property bringing the property up to city code within a year timeframe. The council held a discussion regarding the Revolving Loan Program and heard from Knoxville Chamber of Commerce Director Hannah Vander Veer. The Revolving Loan Program would be established through a 28E agreement between the City of Knoxville and the Knoxville Chamber of Commerce, with the intended purpose to provide supplemental financing in support of new and expanding businesses located within the City of Knoxville. Following the discussion, the council decided to table to resolution until corrections can be made to the loan process. The council accepted the resignation letter of Councilmember Rick Kingery as well as decided to leave the council position vacant until the newly elected council members take their positions in January.