A resolution to amend the existing lease agreement between The Metropolitan Government and the State of Tennessee for the Farmers Market Facility to cede a portion of the leased premises.

WHEREAS, the parties desired to enter into a Lease Agreement for the Farmers Market facility attached hereto and incorporated herein defining their respective rights, duties, and liabilities with respect to the Leased Premises, the Farmers Market facility constructed thereon and the Bicentennial Mall; and,

WHEREAS, Metro and the State entered into a Lease Agreement (“Lease Agreement” or “Original Lease Agreement”) pursuant to Resolution No. R95-1660; and,

WHEREAS, Resolution No. R95-1660 provided that any further amendment to the Lease Agreement must be approved by a resolution of the Metropolitan Council which receives at least twenty-one affirmative votes; and,

WHEREAS, Amendment One to the Lease Agreement was properly enacted under Resolution No. RS2009-606 pursuant to Resolution No. R95-1660 and provided that alcohol could be sold on the premises of the Farmers Market; and,

WHEREAS, the parties to the Lease Agreement now desire to execute Amendment Two to the Lease Agreement to cede the northern tract of the Leased Premises in return for four (4) million dollars, a copy of which is attached hereto; and,

WHEREAS, the representatives of Metro and the State have agreed to the terms of Amendment Two.


Section 1. That Metro and the State hereby agree that in exchange for four (4) million dollars, the terms of Amendment Two, attached hereto, shall be incorporated into the Lease Agreement.

Section 2. That Exhibit A of the Lease Agreement shall be amended to remove the property as outlined in Schedule 1, attached hereto, from the Leased Premises. This shall include, generally, the northern tract of the property which contains the north shed facility and the adjacent parking lot.

Section 3. This Amendment to the Lease Agreement shall not be binding upon the State until it is signed by the parties and approved by the appropriate officials in accordance with any applicable contractual terms, Tennessee laws, and Tennessee regulations.

Section 4. This resolution shall take effect from and after its final passage, the welfare of the public requiring it.

Sponsored by: Freddie O'Connell, Samuel Coleman, Bill Pridemore

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Referred to: Budget & Finance Committee
Codes, Fair, and Farmer's Market Committee
Introduced: February 2, 2016
Deferred to March 1, 2016: February 2, 2016
Adopted: March 1, 2016
Approved: March 2, 2016
By: Mayor's signature

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