An ordinance approving an agreement with the Nashville District Management Corporation for the administration of the Central Business Improvement District.

Whereas, Ordinance No. BL1998-1037 created, pursuant to Tennesee Code Annotated §§ 7-84-501 et seq. a Central Business Improvement District (“CBID”) to operate until January 1, 2003, and authorized a district management corporation; and

Whereas, Ordinance No. BL2002-1064 extended the term of the CBID until December 31, 2007; and

Whereas, the Agreement between the Metropolitan Government of Nashville and Davidson County and the Nashville District Management Corporation (“NDMC”) provides for the NDMC’s administration of the CBID; and

Whereas, approval of the Agreement will benefit the citizens of Davidson County.

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

Section 1. That the Agreement between The Metropolitan Government of Nashville and Davidson County and the Nashville District Management Corporation, attached hereto and incorporated herein, is hereby approved, and the Mayor is authorized to execute the same.

Section 2. That any amendments to the terms of the Agreement must be approved by resolution of the Metropolitan Council receiving twenty-one 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: Diane Neighbors, Ludye N. Wallace, Mike Jameson

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LEGISLATIVE HISTORY
Introduced:	December 21, 2004
Passed First Reading:	December 21, 2004
Referred to:	Budget & Finance Committee
Passed Second Reading:	January 18, 2005
Passed Third Reading:	February 1, 2005
Approved:	February 2, 2005
By: