An agreement between the City of Knoxville and Knoxville Water Works has set in motion the creation of an economic development commission. The agreement was finalized after a vote by the City Council Monday. Both the City and Knoxville Water Works will contribute $25,000 to start. The money will be put aside to be used for economic development projects. The next step will be to create an economic development commission to help oversee that fund. Knoxville City Manager Harold Stewart says that he hopes that the commission can be created and start to be filled by the end of this year.