An ordinance approving a parking agreement between the Metropolitan Government and Stahlman Redevelopment Partners, LLC, for the use of up to 175 parking spaces for a fee in the new courthouse parking garage currently under construction. (Proposal No. 2005M-021U-09).

Whereas, the Metropolitan Development and Housing Agency ("MDHA") and Stahlman Redevelopment Partners, LLC ("Stahlman Partners") have executed a development agreement whereby Stahlman Partners will redevelop the Stahlman Building, previously conveyed to MDHA by the Metropolitan Government, for residential and retail use; and

Whereas, convenient parking is an important component to the eventual success of the redevelopment of the Stahlman Building and has been an important element in the discussions between MDHA and Stahlman Partners; and

Whereas, MDHA, Stahlman Partners and the Metropolitan Government have conducted extensive discussions and negotiations to allow Stahlman Partners the use of parking spaces for a fee in the new courthouse underground parking garage that is currently under construction; and

Whereas, the attached Parking Agreement represents the agreement of all the parties and it is in the best interest of the Metropolitan Government to execute the Parking Agreement.

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

Section 1. That the Parking Agreement attached hereto and made a part of this ordinance for use of not to exceed 175 parking spaces for tenants of the redeveloped Stahlman Building in the underground courthouse parking garage, currently under construction for an initial fee of $110.00 monthly per parking space to be paid by Stahlman Partners, and for a term commencing on July 1, 2006, and extending for forty (40) years, is hereby approved.

Section 2. That any amendments to the Parking Agreement may be approved by resolution receiving twenty-one (21) votes of the Metropolitan Council.

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, Mike Jameson

LEGISLATIVE HISTORY
Introduced:	January 18, 2005
Deferred:	January 18, 2005
Passed First Reading:	February 1, 2005
Referred to:	Planning Commission - Approved 8-0 (January 27, 2005) Traffic & Parking Commission - Approved 7-0 (March 14, 2005) Budget & Finance Committee Planning & Zoning Committee Traffic & Parking Committee
Passed Second Reading:	February 15, 2005
Passed Third Reading:	March 15, 2005
Approved:	March 18, 2005
By: