RESOLUTION NO. RS2009-1048
A resolution approving an Interlocal Agreement between The Metropolitan Government of Nashville and Davidson County and the City of Goodlettsville for Payments In Lieu of Ad Valorem Taxes.
WHEREAS, The Metropolitan Government of Nashville and Davidson County ("Metropolitan Government") and the City of Goodlettsville ("the City."), have an interest in the economic development of their shared geographical area; and,
WHEREAS, Goodlettsville, pursuant to Tennessee Code Annotated, Section 7-53-305, desires to delegate to the Goodlettsville Industrial Development Board (“Goodlettsville IDB”) the authority to negotiate and accept from Goodlettsville IDB lessees payments in lieu of ad valorem taxes (“PILOT”); and,
WHEREAS, Goodlettsville recognizes that the manner in which payments in lieu of ad valorem tax agreements are created and operate under Tennessee law could have an undesirable impact or unintended consequence on the tax revenue of the Metropolitan Government, which both Goodlettsville and the Metropolitan Government wish to avoid; and,
WHEREAS, the Metropolitan Government and Goodlettsville recognize the potential value to both the Metropolitan Government and Goodlettsville of payments in lieu of ad valorem tax agreements as a means of stimulating and supporting the economic development and prosperity of both Goodlettsville and the Metropolitan Government in certain circumstances; and,
WHEREAS, Goodlettsville and the Metropolitan Government, for the purposes of an Interlocal Agreement only, recognize the mutual benefit of establishing a process by which Goodlettsville can realize the benefits of a municipal industrial development board without negative consequences to the Metropolitan Government property tax revenues; and,
WHEREAS, the Metropolitan Government and Goodlettsville have agreed upon the terms of an Interlocal Agreement intended to govern Goodlettsville IDB PILOT agreements with lessees within the shared geographical area of each governmental entity; and,
WHEREAS, pursuant to Tennessee Code Annotated, Section 12-9-101, et seq., local governments in Tennessee have the authority to enter into interlocal agreements to achieve common objectives subject to the approval of their respective governing bodies by resolution or as otherwise provided by law; and,
WHEREAS, there has been presented with this resolution the Interlocal Agreement approved by Resolution No. 09-407 of the Board of Commissioners of the City of Goodlettsville and executed by the Goodlettsville Mayor; and,
WHEREAS, it is to benefit the citizens of the Metropolitan Government that this Interlocal Agreement be approved.
NOW, THEREFORE, BE IT RESOLVED BY THE COUNCIL OF THE METROPOLITAN GOVERNMENT OF NASHVILLE AND DAVIDSON COUNTY:
Section 1. That the Interlocal Agreement by and between The Metropolitan Government of Nashville and Davidson County and the City of Goodlettsville for payments in lieu of Ad Valorem taxes be and the same is hereby approved and the Metropolitan Mayor is hereby authorized to execute said Interlocal Agreement.
Section 2. That this resolution shall take effect from and after its final passage, the welfare of The Metropolitan Government of Nashville and Davidson County requiring it.
Sponsored by: Rip Ryman, Tim Garrett, Ronnie Steine
Attachment(s) on file in the Metropolitan Clerk's Office
|Referred to:||Budget & Finance Committee|
|Introduced:||December 1, 2009|
|Adopted:||December 1, 2009|
|Approved:||December 3, 2009|