KINGSPORT — The Kingsport Board of Mayor and Alderman voted 6-0 on Tuesday night to amend the city’s vacation policy as Kingsport continues to revamp its benefits to become more competitive in the job market.
“We didn’t see we were as competitive as our competition was,†Kingsport City Manager Chris McCartt told board members Monday during its work session.
The new policy front loads one week vacation time for new hires, while also revamping how much vacation time can be accrued through years of service.
This comes after the city revamped other benefits over the past year such as increased pay and more competitive retirement benefits to try and keep in lock step with the current hiring environment.
The new realignment for vacation times will be:
• 1-5 years: Two weeks vacation (No change)
• 5-10 years: Three weeks vacation (Change from 5-13 years)
• 10-20 years: Four weeks vacation (Change from 13-28 years)
• 20+ years: Five weeks vacation (Change from 28 plus years)
The new policy puts the city in line with surrounding municipalities. For comparison, ºÚÁÏÊÓƵ employees accrue up to 10 days a year between one to five years employment, 13 days after five to 10 years, 16 days after 10 years and 19 days after 16 years.
Bristol employees accrue 10.5 days between one to five years employment, 10.5 days after five years after 10 years employment and 21 days after 15 years employment.
The new policy will take place on Jan. 1.
In other news, the Kingsport Board of Mayor and Aldermen voted 6-0 to agree for the Kingsport Economic Development Board to extend a loan on the Brickyard Park development for an additional 12 months until Dec. 20, 2024 at a fixed-interest rate of 7.5%.
City officials said the city’s contributions for interest payments would not exceed $300,000.
The plan will be to evaluate and restructure the loan as land is sold in phases to the developer.
The loan is part of $4 million first borrowed in 2013 to buy the former General Shale property where Brickyard Park is now located.
Out of the loan, $2.7 million was used to demolish structures in the area to prepare it for development.
The Economic Development Board will vote on the amended loan agreement during its next board meeting on Dec. 12.
