ORDINANCE NO. BL2012-93
An ordinance amending Ordinance No. BL2011-950 to define the owner of the Project related to the negotiation and acceptance of payments in lieu of ad valorem taxes with respect to Standard Candy Company.
WHEREAS, on July 19, 2011, the Metropolitan Council duly enacted Ordinance No. BL 2011-950 wherein it delegated authority to the Industrial Development Board of the Metropolitan Government of Nashville and Davidson County to negotiate an agreement with and accept payments in lieu of ad valorem taxes from Standard Candy Company; and,
WHEREAS, the Metropolitan Council outlined specific parameters for the terms of any agreement to accept payments in lieu of ad valorem taxes; and,
WHEREAS, the Project as described in Ordinance No. BL2011-950 is actually owned by an affiliate of Standard Candy Company, SFL&B, LLC, a Tennessee limited liability company, rendering it necessary to modify the parameters set forth in the ordinance to permit SFL&B, LLC to enter into the agreement with the Board to pay payments in lieu of ad valorem taxes and lease the Project from the Board to sublease the Project to Standard Candy Company.
NOW THEREFORE, BE IT ENACTED BY THE COUNCIL OF THE METROPOLITAN GOVERNMENT OF NASHVILLE AND DAVIDSON COUNTY:
Section 1. That Ordinance No. BL2011-950, Section 3, is hereby amended by adding the following sentence:
“The term “Standard Candy” shall mean “Standard Candy or an affiliate including but not limited to SFL&B, LLC.””
Section 2. The Ordinance as amended herein is hereby ratified confirmed and shall continue to be in full force and effect.
Section 3. That this Ordinance shall take effect from and after its final passage, the welfare of The Metropolitan Government of Nashville and Davidson County requiring it.
Sponsored by: Phil Claiborne, Sean McGuire
|Introduced:||February 7, 2012|
|Passed First Reading:||February 7, 2012|
|Referred to:||Budget & Finance Committee|
|Passed Second Reading:||February 21, 2012|
|Passed Third Reading:||March 20, 2012|
|Approved:||March 23, 2012|