Whereas, the Nashville Downtown Partnership (“Partnership”) wishes to manage the public parking facilities of the Metropolitan Government of Nashville and Davidson County (Metropolitan Government) in order to support the economic vitality of Downtown Nashville by offering affordable, user-friendly parking options that meet the needs of both the short-term retail user and the long-term tenant user; and

Whereas, the Partnership agrees to guarantee that the net operating revenue generated by the parking facilities will not decline from the net operating revenue generated in Fiscal Year 2002; and

Whereas, any surplus revenue, above the net operating revenue generated, will be maintained by the Metropolitan Government in a separate fund. This surplus revenue shall be allocated equally between the Metropolitan Government and the Partnership for projects or activities on behalf of the Partnership to improve the downtown area; and

Whereas, the Metropolitan Traffic and Parking Commission has voted to approve this contract; and

Whereas, it is to the benefit of the citizens of The Metropolitan Government of Nashville and Davidson County that this grant be accepted.

Now, therefore, be it enacted by the Council of The Metropolitan Government of Nashville and Davidson County:

Section 1: That the contract by and between the Metropolitan Government of Nashville and Davidson County and the Nashville Downtown Parntership is hereby approved.

Section 2: That any amendments to this contract shall be approved by resolution of the Metropolitan Council receiving twenty-one (21) affirmative votes.


Section 3. That 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: Ludye Wallace, Amanda McClendon, Tony Derryberry

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AMENDMENT NO. 1

TO

ORDINANCE NO. BL2002-1187

Mr. President:

I move to amend Ordinance No. BL2002-1187 as follows:

By amending Section 1 by as follows:

By amending Exhibit 1 to the Contract the financial document attached hereto; and

By adding the following provisions to the end of said Section:

“Any provision in the contract to the contrary notwithstanding, no renewal or extension of this contract shall be effective unless and until the same be approved by resolution adopted by the Metropolitan Council with twenty-one (21) affirmative votes.”

Sponsored by: Ludye Wallace, Leo Waters

LEGISLATIVE HISTORY
Introduced:	September 17, 2002
Passed First Reading:	September 17, 2002
Referred to:	Budget & Finance Committee
Amended:	October 1, 2002
Passed Second Reading:	October 1, 2002
Passed Third Reading:	October 15, 2002
Approved:	October 16, 2002
By: