RESOLUTION NO. RS2014-1217
A resolution authorizing the execution and delivery of an economic development incentive grant agreement between The Metropolitan Government of Nashville and Davidson County and Music City Productions, Inc., the company which produces the television show, Nashville.
WHEREAS, the Metropolitan Government of Nashville and Davidson County (the “Metropolitan Government”) is vitally interested in the economic welfare of the citizens living within the area of the Metropolitan Government (such area, the “City”) and wishes to provide the leadership necessary to enhance this area's capabilities for growth and development; and,
WHEREAS, the provision of quality jobs to area citizens by local business is both necessary and vital to the economic well-being of the Metropolitan Government; and,
WHEREAS, the Music City Productions, Inc. (the “Company”) production of the Nashville television show on the American Broadcasting Company network provides a tremendous benefit to the citizens of the City both due to the unprecedented promotional value it provides and the economic boon to the local economy; and,
WHEREAS, the production of the Nashville television show is a once in a generation promotional vehicle and business recruitment tool for our city and is watched by well over 5 million Americans each week; and,
WHEREAS, the Nashville television show, critically acclaimed and recipient of both Emmy and Golden Globe nominations, showcases the sights, sounds and people that make our City unique and is sold into over 20 major countries from UK through continental Europe, Scandinavia, Asia, Australia & Latin America; and,
WHEREAS, it is anticipated that for the duration of Season 3, the production will spend over $40 million in this region on both Tennessee resident labor and on goods and services at over 400 local vendors including but not limited to hotels, restaurants, caterers, and florists; and,
WHEREAS, pursuant to Tenn. Code Ann. § 5-9-101(26), the Metropolitan Government is authorized to use available funds to make grants for economic and community development purposes; and,
WHEREAS, pursuant Resolution No. RS2014-_____ one million dollars ($1,000,000.00) have been appropriated to department number 01101637 related to Music and Entertainment Economic Development Initiatives for the specific purpose of funding the Economic Development Incentive Grant Agreement (the “Grant Agreement”) attached as Exhibit A; and,
WHEREAS, it is in the interest and welfare of the citizens of the Metropolitan Government to approve and execute the Grant Agreement with the Company in the form attached hereto as Exhibit A.
NOW, THEREFORE, BE IT RESOLVED BY THE METROPOLITAN COUNCIL OF THE METROPOLITAN GOVERNMENT OF NASHVILLE AND DAVIDSON COUNTY:
Section 1. The terms and provisions of the Grant Agreement by and between the Metropolitan Government and the Company substantially in the form attached hereto as Exhibit A are hereby approved.
Section 2. The Metropolitan Mayor of the Metropolitan Government (the “Metropolitan Mayor”) is hereby authorized, empowered and directed to execute and deliver the Grant Agreement in the name and on behalf of the Metropolitan Government in the form now before this meeting. From and after the execution and delivery of the Grant Agreement, the officers of the Metropolitan Government or any of them, are hereby authorized, empowered and directed to do all such acts and things and to execute all such documents as may be necessary to carry out and comply with the provisions of the Grant Agreement as executed.
Section 3. Notwithstanding anything to the contrary herein, the Metropolitan Government's obligation to make any payments hereunder is contingent upon the appropriation of funds for such purpose by the Metropolitan Council.
Section 4. Any amendment(s), change(s), or extension(s) of the Grant Agreement shall be approved by resolution of the Metropolitan Council receiving twenty-one affirmative votes.
Section 5. This resolution shall take effect from and after its adoption, the welfare of the Metropolitan Government requiring it.
Sponsored by: Bill Pridemore
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|Referred to:||Budget & Finance Committee|
|Introduced:||September 16, 2014|
|Adopted:||September 16, 2014|
|Approved:||September 22, 2014|
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