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Resolution RS2020-353

A resolution requesting recipients of economic development incentive grants from the Metropolitan Government to forego such grants in Fiscal Year 2020-2021.

WHEREAS, previous Metropolitan Councils approved economic development incentive jobs grants for companies relocating to, or choosing to stay in, Nashville; and

WHEREAS, these economic development incentive jobs grants are paid out of the Metropolitan Government General Fund, which is primarily comprised of property and sales tax dollars; and

WHEREAS, the Fiscal Year 2020-2021 operating budget proposed by the Mayor reduces the amount of economic development incentive jobs grants by fifty percent; and

WHEREAS, given the economic challenges facing the Metropolitan Government, the Mayor’s proposed budget relies on $332 Million in new revenue from a $1.00 property tax increase; and

WHEREAS, such a property tax increase will cause an economic hardship for some of our most vulnerable residents, especially those who have recently lost their jobs as a result of the COVID-19 pandemic; and

WHEREAS, given the financial crisis we are facing as a city and as a government, the Metropolitan Council respectfully requests those companies that were to receive the reduced economic development incentive jobs grants for Fiscal Year 2020-2021 to forego such grants for the next fiscal year.

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

Section 1. The Metropolitan County Council hereby goes on record as requesting the following intended recipients of economic development incentive jobs grants from the Metropolitan Government to forego such grants in Fiscal Year 2020-2021:

Bridgestone $215,300
HCA $648,500
Warner Music $34,700
Philips Holdings $158,800

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)

Zulfat Suara, Jennifer Gamble, Russ Bradford, Ginny Welsch, Sharon Hurt, Delishia Porterfield, Antoniette Lee, Burkley Allen

Legislative History

Referred toBudget and Finance Committee

IntroducedJune 2, 2020

Deferred to June 9, 2020June 2, 2020

WithdrawnJune 9, 2020

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

Last Modified: 06/12/2020 5:10 PM