A resolution declaring the Metropolitan Council’s intention not to approve any economic development incentive awards for a period of one year, and not until metrics are established regarding the awarding of such incentives.
WHEREAS, the Metropolitan Government has awarded millions of dollars in economic development incentives in the form of jobs grants, PILOTs, and/or participation agreements for companies such as Amazon, Dell, Asurion, Ryman Hospitality, Warner Music, Bridgestone, Lifeway, HCA, Parallon, AIG, UBS, LifePoint, HealthSpring, and AllianceBerstein; and
WHEREAS, economic development incentives have been an important tool for Nashville to attract and retain employers, which has helped maintain a vibrant and healthy local economy; and
WHEREAS, although each agreement typically sets forth an estimated number of jobs created/retained, to date there has been no set criteria or metrics system for the awarding of incentives; and
WHEREAS, the Metropolitan Council is currently deliberating whether the Mayor’s proposed 32 percent property tax increase is necessary to fund essential operations of the government in midst of a worldwide COVID-19 pandemic that is wreaking havoc on the economy; and
WHEREAS, if the Council is going to ask the property owners of Davidson County to pay more in property taxes, those taxpayers should have assurance that their tax dollars will not be used for corporate incentives unless metrics are established for such awards ensuring the public of a wise investment.
NOW, THEREFORE, BE IT RESOLVED BY THE COUNCIL OF THE METROPOLITAN GOVERNMENT OF NASHVILLE AND DAVIDSON COUNTY:
Section 1. That the Metropolitan Council hereby goes on record as stating its intention not to approve any economic development incentive awards for a period of one year, except for incentive awards related to the Barnes Fund, the Housing Incentive Pilot Program, and the MDHA PILOT Program, all of which are aimed at creating affordable housing in Nashville. Further, the Metropolitan Council does not intend to approve any economic development incentives after the one-year period until defined metrics are established regarding the awarding of such incentives.
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.
Kyonzté Toombs, Brandon Taylor, Jennifer Gamble, Zulfat Suara, Joy Styles, Delishia Porterfield, Antoniette Lee
Referred toRules, Confirmations, and Public Elections Committee
IntroducedMay 19, 2020
FailedMay 19, 2020
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Last Modified: 05/25/2020 4:37 PM