ORDINANCE NO. BL2016-258
An ordinance authorizing the conveyance of the Metropolitan Government’s interest in the building and parcel of property located at 225 Polk Avenue (Proposal Number 2016M-017PR-001).
WHEREAS, the Metropolitan Government owns a portion of the building and parcel of real property (the “Property;” commonly known as the Old Ben West Library) at 225 Polk Avenue, Nashville, Tennessee 37219; and
WHEREAS, the Property was declared surplus pursuant to BL2014-752; and
WHEREAS, on behalf of the Metropolitan Government, the Metropolitan Development and Housing Agency (“MDHA”) sought proposals from interested parties for redevelopment and reuse of the Property; and
WHEREAS, the Tennessee Education Association (“TEA”) submitted a proposal for preservation of the building historical elements and restoration of the Property as its headquarters and for certain conference, public and school functions as a public/private facility with anticipated improvements to the Property of approximately $8,500,000.00 (the “Redevelopment Project”); and
WHEREAS, TEA’s proposal provides for payment to the Metropolitan Government in the amount of $2,000,000 ($750,000 at closing plus 10 subsequent annual payments of $125,000) and for use rent-free by the Metropolitan Government up to 12 times per year and by the Metropolitan Board of Public Education up to 50 times per year for meetings and events; and
WHEREAS, TEA estimates the total benefit for the use of the Property/facility to the Metropolitan Government and Metropolitan Board of Public Education over 10 years to be approximately $5,000,000.00; and
WHEREAS, upon the condition that MDHA will further convey the Property to TEA for use as contemplated in the proposed purchase and sale agreement (the “Agreement”) attached to this ordinance as Exhibit 1, the Metropolitan Government proposes to convey the Property to MDHA by quitclaim deed; and
WHEREAS, the conveyance of the Property to MDHA to facilitate the Redevelopment Project by TEA in accordance with the Capitol Mall Redevelopment Plan and MDHA’s further conveyance of the Property to TEA as contemplated in the Agreement are both in the public interest.
NOW, THEREFORE, BE IT ENACTED BY THE COUNCIL OF THE METROPOLITAN GOVERNMENT OF NASHVILLE AND DAVIDSON COUNTY:
Section 1. The Metropolitan Government authorizes the Director of Public Property Administration to execute the Agreement and convey the Metropolitan Government’s interest in the Property to MDHA for further conveyance to TEA.
Section 2. The Director of Public Property Administration or his designee is further authorized to execute such documents as are customary and necessary to carry out the intent of this ordinance.
Section 3. 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: Freddie O'Connell, Bill Pridemore, Burkley Allen
|Introduced:||June 7, 2016|
|Passed First Reading:||June 7, 2016|
|Referred to:||Budget & Finance Committee
Planning, Zoning & Historical Committee
|Passed Second Reading:||June 21, 2016|
|Passed Third Reading:||July 5, 2016|
|Approved:||July 6, 2016|
Requests for ADA accommodation should be directed to the Metropolitan Clerk at 615/862-6770.