SUBSTITUTE ORDINANCE NO. BL2015-1132
An ordinance authorizing the Director of Public Property Administration to execute two quitclaim deeds conveying two parcels of property located on Finland Street and Hopedale Drive to Google Fiber Inc. and a Purchase and Sale Agreement regarding one of the parcels (Proposal No. 2015M-013PR-001).
Whereas, the Metropolitan Government acquired a parcel at 2508 Finland Street (the “Finland Street Property”) as the result of the execution of a demolition lien on that property; and,
Whereas, the Metropolitan Government acquired a parcel at 4802 Hopedale Drive (the “Hopedale Drive Property,” and, together with the Finland Street Property, the “Properties”) as the result of a back tax sale of that property; and,
Whereas, the Finland Street Property has been appraised as having a fair market value of $28,000.00; and,
Whereas, the Hopedale Drive Property has been appraised as having a fair market value of $36,000.00; and,
Whereas, in exchange for the payment of $28,000.00 to it by Google Fiber Inc., and pursuant to the terms of the quitclaim deed attached as Exhibit 1 to this Ordinance, the Metropolitan Government has agreed to transfer to Google Fiber Inc. all the interest it may possess in the Finland Street Property; and,
Whereas, in exchange for the payment to it by Google Fiber Inc. of $36,000.00, and pursuant to the terms of the quitclaim deed attached as Exhibit 2 to this Ordinance, the Metropolitan Government has agreed to transfer to Google Fiber Inc. all the interest it may possess in the Hopedale Drive Property; and,
Whereas, because a title insurance policy is not immediately available on the Hopedale Drive Property due to the statute of repose not having yet expired, Google has requested and the Metropolitan Government is willing to agree to the terms of a Purchase and Sale Agreement regarding that property, attached as Exhibit 3 to this ordinance, which provides for the sale to be rescinded if there is a challenge to the title of the property; and,
Whereas, the Properties are not required by the Metropolitan Government for any public purpose; and,
Whereas, selling the Properties to Google Fiber Inc. will relieve the Metropolitan Government of the obligation of paying for the maintenance of the Properties and will return the Properties to the tax rolls of the Metropolitan Government; and,
Whereas, the citizens of Nashville and Davidson County will benefit through the actions contemplated herein.
NOW, THEREFORE, BE IT ENACTED BY THE COUNCIL OF THE METROPOLITAN GOVERNMENT OF NASHVILLE AND DAVIDSON COUNTY:
Section 1. That the Director of Public Property is authorized to execute the quitclaim deeds attached hereto as Exhibits 1 and 2, conveying such interest as the Metropolitan Government may have in the areas described therein, and to close on the transaction in exchange for the payment of the consideration referenced above.
Section 2. That the Purchase and Sale Agreement attached hereto as Exhibit 3 is hereby approved and the Director of Public Property is authorized to execute the same.
Section 3. That the proceeds from the sale of the two parcels of property, when received by the Metropolitan Government, following escrow, if any, shall be deposited into the General Fund of the General Services District.
Section 4. This ordinance shall take effect from and after its final passage, the welfare of The Metropolitan Government of Nashville and Davidson County requiring it.
Sponsored by: Edith Taylor Langster, Bill Pridemore, Walter Hunt
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|Introduced:||May 19, 2015|
|Passed First Reading:||May 19, 2015|
Budget & Finance Committee
|Substitute Introduced:||June 2, 2015|
|Passed Second Reading:||June 2, 2015|
|Passed Third Reading:||June 9, 2015|
|Approved:||June 10, 2015|
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