Authorities have identified the man as 27-year-old Mathew Lopez.
The incident happened Saturday on East Weldon Avenue and Mayfair Drive East, an area commonly known as the Mayfair District.
Officials say there was a disturbance at a home in the area between family members and someone had been stabbed.
When deputies arrived, they found a small group of people that said Lopez had a large concrete stepping stone and was using it as a weapon.
Deputies say they tried using a Taser on Lopez, but it didn't work.
Authorities say Lopez ran towards a deputy with the stone cocked back. He was ultimately shot and taken to Community Regional Medical Center, where he later died.
Multiple other people at the home also needed medical treatment for injuries they received during the earlier stabbing.
No deputies were injured in the incident.
EDITOR'S NOTE: The video above is from a previous broadcast and will be updated.