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Resolution RS2020-365

A resolution amending the ground lease between The Metropolitan Government of Nashville and Davidson County, by and through the Board of Fair Commissioners, and Nashville Soccer Holdings Development LLC for the construction of a development at the Fairgrounds Nashville to remove a condition added by Amendment No. 2 to Substitute Ordinance No. BL2018-1291, as amended.

WHEREAS, Substitute Ordinance No. BL2018-1291, as amended, approved the execution and delivery of a ground lease between The Metropolitan Government of Nashville and Davidson County, by and through the Board of Fair Commissioners, and Nashville Soccer Holdings Development LLC (the "Ground Lease") for the construction of a development at the Fairgrounds Nashville; and

WHEREAS, Amendment No. 2 to Substitute Ordinance No. BL2018-1291 added a provision to the Ground Lease making the Lessee’s failure to host games at the Stadium played by Nashville Soccer Holdings, LLC’s Major League Soccer expansion franchise for any single period of 24 consecutive months during the first 30 years of the lease an event of default; and

WHEREAS, in order to facilitate financing for the proposed mixed-use development at the Fairgrounds Nashville, it is necessary that the condition to the Ground Lease added by Amendment No. 2 to Substitute Ordinance No. BL2018-1291 be deleted and repealed; and

WHEREAS, Section 5 of Substitute Ordinance No. BL2018-1291 provides that amendments to the Ground Lease may be approved by resolution of the Metropolitan Council receiving twenty-one affirmative votes.

NOW, THEREFORE, BE IT RESOLVED BY THE COUNCIL OF THE METROPOLITAN GOVERNMENT OF NASHVILLE AND DAVIDSON COUNTY:

Section 1. The Ground Lease approved by Substitute Ordinance No. BL2018-1291, as amended, is hereby amended by deleting the following provision in its entirety from Section 12 of the Ground Lease:
"e. the Lessee’s failure to host games at the Stadium played by Nashville Soccer Holdings, LLC’s Major League Soccer expansion franchise for any single period of twenty-four (24) consecutive months during the first thirty (30) years of the Ground Lease."

Section 2. This Resolution shall take effect from and after its adoption, the welfare of The Metropolitan Government of Nashville and Davidson County requiring it.

Sponsor(s)

Colby Sledge

Legislative History

FiledJune 9, 2020

Requests for ADA accommodation should be directed to the Metropolitan Clerk at 615-862-6770.

Last Modified: 06/29/2020 3:49 PM