An Ordinance Amending Title 2 of the Code of The Metropolitan Government of Nashville and Davidson County and authorizing the continuation of a Central Business Improvement District for Metropolitan Nashville and Davidson County, Tennessee.

WHEREAS, pursuant to the Central Business Improvement District Act of 1990, property owners in a confined area within downtown Nashville representing at least 51% of the real property owners and at least 67% of the assessed value of all real property within that area, presented petitions to the Metropolitan Government of Nashville and Davidson County in 1998 requesting creation of a Central Business Improvement District (the "District") for downtown Nashville; and

WHEREAS, the Metropolitan Council adopted Ordinance No. 098-1037 amending Title 2 of the Metropolitan Code of Laws and creating a Central Business Improvement District for Metropolitan Nashville and Davidson County, Tennessee and appointing an advisory board to the District; and

WHEREAS, section 2.174.090 of the Metropolitan Code of Laws provides that the District shall be dissolved without further action by the District Management Corporation or the Metropolitan Council on January 1, 2003 unless prior to that date the Metropolitan Council, by ordinance, determines that the District should be continued and a petition that satisfies the requirements of the Central Business Improvement Act, T.C.A.§ 7-84-501 et seq., is filed requesting continuation of the District; and

WHEREAS, the office of the clerk is in receipt of a petition for the continuation of the Central Business Improvement District, meeting the requirements of T.C.A.§7-84-511 and the Metropolitan Code of Laws; and

WHEREAS, the creation of the Central Business Improvement District has enhanced the local business climate and assisted with management of the area and maintaining a clean, safe and vibrant environment in downtown Nashville for residents and visitors to work, live, shop and play; and

WHEREAS, among the services and improvements that are funded by the Central Business Improvement District are security enhancement, beautification efforts, business recruitment and retention services and overall downtown promotions; and

WHEREAS, the District Management Corporation continues to make a valuable contribution to the condition of downtown Nashville.

NOW, THEREFORE, BE IT ENACTED BY THE METROPOLITAN COUNCIL OF THE METROPOLITAN GOVERNMENT OF NASHVILLE AND DAVIDSON COUNTY:

SECTION 1. Section 2.174.090 of the Metropolitan Code of Laws is hereby amended by extending the term of the District from January 1, 2003 to December 31, 2007.

SECTION 2. The Metropolitan Council of the Metropolitan Government of Nashville and Davidson County hereby authorizes the Metropolitan Mayor to execute a memorandum of agreement between the Metropolitan Government and the District Management Corporation specifying the level of urban services currently being provided and making assurances consistent with this Ordinance. The Director of the Department of Finance shall approve the method of collection, administration and distribution of the special assessment revenue authorized hereunder.

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: Ludye Wallace, Jim Shulman

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LEGISLATIVE HISTORY
Introduced:	May 21, 2002
Passed First Reading:	May 21, 2002
Referred to:	Budget & Finance Committee
Passed Second Reading:	June 4, 2002
Passed Third Reading:	June 18, 2002
Approved:	June 21, 2002
By: