RESOLUTION NO. RS2004-640
A resolution requesting the Regional Transportation Authority to examine the feasibility of creating public/private partnerships for housing and retail development projects when acquiring land for the Music City Star commuter rail to help cover the costs of providing the light rail service.
WHEREAS, the Regional Transportation Authority is helping to organize construction of the Music City Star commuter rail from Lebanon, Tennessee to downtown Nashville; and
WHEREAS, construction work on the commuter rail project is set to begin in late November; and
WHEREAS, commuter rail has proven not only to reduce traffic congestion in urban areas, but also to improve air quality and spur urban redevelopment; and
WHEREAS, the Music City Star commuter rail project has a budgeted cost of approximately $40 million, with a fare cost of three to four dollars per one-way trip; and
WHEREAS, it is vital that the fare costs for this commuter rail project be kept as low as possible to encourage riders to utilize this form of transportation; and
WHEREAS, since rider fares are often insufficient to pay for the cost of operating commuter rail services, cities such as San Diego, California have developed public/private partnerships for development projects on land acquired for construction of the commuter rail to increase tax revenues; and
WHEREAS, it is fitting and proper that the Regional Transportation Authority consider forming similar public/private partnerships to help offset the cost of providing commuter rail service.
NOW, THEREFORE, BE IT RESOLVED BY THE COUNCIL OF THE METROPOLITAN GOVERNMENT OF NASHVILLE AND DAVIDSON COUNTY:
Section 1. That the Metropolitan County Council hereby goes on record as requesting the Regional Transportation Authority to examine the feasibility of creating public/private partnership development projects, including but not limited to retail and residential, when acquiring land for the Music City Star commuter rail to help cover the costs of providing the light rail service.
Section 2. That the Metropolitan Clerk is directed to send a certified copy of this Resolution to each member of the Regional Transportation Authority, to each member of the Davidson County Delegation to the Tennessee General Assembly, to Mayor Bill Purcell, and to Governor Phil Bredesen.
Section 3. That this Resolution shall take effect from and after its adoption, the welfare of The Metropolitan Government of Nashville and Davidson County requiring it.
Sponsored by: Greg Adkins
|Referred:||Transportation & Aviation Committee|
|Introduced:||December 7, 2004|
|Adopted:||December 7, 2004|
|December 8, 2004|