ORDINANCE NO. BL2003-1309
ordinance approving a lease agreement between Five Star Investments, L. P. and
The Metropolitan Government of Nashville and Davidson County for certain real
property located at 540 Mainstream Drive, Nashville, Tennessee, 37228, for use
as a temporary parking lot for the courts at Metro Center (Proposal No. 2003M-015U-08).
WHEREAS, Five Star Investments, L. P. (“Five Star”) owns certain vacant real property (the “Property”) located at 540 Mainstream Drive, Nashville, Tennessee 37228; and
WHEREAS, pursuant to the terms of the agreement (the “Agreement”) attached to this ordinance as Exhibit A and incorporated by reference, Five Star Investments, L. P. agrees to lease the Property to the Metropolitan Government for rental in the amount not to exceed $179,250 for a term beginning on April 1, 2003, and ending on March 31, 2006; and
WHEREAS, The Metropolitan Government has determined that the Property is needed to provide temporary parking space for the Courts and related services; and
WHEREAS, the Director of Public Property Administration is authorized to lease real property, subject to the approval of the Metropolitan County Council and the Mayor.
NOW, THEREFORE, BE IT ENACTED BY THE COUNCIL OF THE METROPOLITAN GOVERNMENT OF NASHVILLE AND DAVIDSON COUNTY:
SECTION 1. That the Agreement (Exhibit A) between Five Star Investments, L. P. and The Metropolitan Government of Nashville and Davidson County is hereby approved.
SECTION 2. That the rent shall be paid out of the unappropriated fund balance of the General Fund of the General Services District which were appropriated by RS 2002-1181.
SECTION 3. That any amendments to this Agreement shall be approved by resolution of the Metropolitan Council receiving twenty-one affirmative votes.
SECTION 4. That this ordinance shall take effect from and after its passage, the welfare of The Metropolitan Government of Nashville and Davidson County requiring it.
Sponsored by: Craig Jenkins
|Introduced:||January 21, 2003|
|Passed First Reading:||January 21, 2003|
Commission - Approved 6-0 (1/23/03)
Budget & Finance Committee
Planning & Zoning Committee
|Passed Second Reading:||February 4, 2003|
|Passed Third Reading:||February 18, 2003|
|Approved:||February 24, 2003|