A resolution approving the First Amendment to the lease agreement between The Metropolitan Government of Nashville and Davidson County and Eckerd Corporation (Proposal No. 2017-M-015AG-001).
WHEREAS, The Metropolitan Government of Nashville and Davidson County (“Metro”) and Eckerd Corporation (“Tenant”) are parties to the Lease Agreement dated August 26, 2015 (the “Lease”) for certain premises comprising a portion of the right-of-way of 25th Avenue North between West End Avenue and Elliston Place, Nashville, Tennessee, and located at 2416 West End Avenue, Nashville, Tennessee (the “Premises”) (Map and Parcel No. 10403001600); and,
WHEREAS, the Lease was approved by BL2015-1042 and is more fully described in Exhibit 1, attached hereto and incorporated herein by reference; and,
WHEREAS, Section 2 of said Lease states that the Lease shall terminate the earlier of August 25, 2045 or the date of the Tenant’s sale of the adjacent improved real property known as 2416 West End Avenue; and,
WHEREAS, Section 12 of said Lease states that Tenant may not assign its interest in the Lease; without Metro’s consent; and,
WHEREAS, Tenant is a wholly owned subsidiary of Rite Aid Corporation; and,
WHEREAS, the parties desire to amend said Lease to reflect Metro’s consent to the assignment of the Lease to a wholly-owned subsidiary of Walgreen Co. and/or Walgreens Boots Alliance, Inc.; and,
WHEREAS, Ordinance No. BL2015-1042 states that any amendments to this Lease shall be approved by resolution of the Metropolitan Council receiving twenty one affirmative votes; and,
WHEREAS, it is to the benefit of the citizens of The Metropolitan Government of Nashville and Davidson County that this amendment be approved.
NOW, THEREFORE, BE IT RESOLVED BY THE COUNCIL OF THE METROPOLITAN GOVERNMENT OF NASHVILLE AND DAVIDSON COUNTY:
Section 1. That this First Amendment to Lease entered into between The Metropolitan Government of Nashville and Davidson County and Eckerd Corporation, a copy of which is attached hereto as Exhibit 2 and incorporated herein, is hereby approved, and the Director of Public Property is authorized to execute the same.
Section 2. This resolution shall take effect from and after its passage, the welfare of The Metropolitan Government of Nashville and Davidson County requiring it.
Sponsored by: Edward Kindall, Tanaka Vercher, Burkley Allen
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Commission - Approved
Budget & Finance Committee
Planning, Zoning, & Historical Committee
|Introduced:||October 3, 2017|
|Adopted:||October 3, 2017|
|Approved:||October 4, 2017|
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