WHEREAS, on February 20, 2007, the Metropolitan Council enacted Ordinance No. BL2007-1312, which authorized the creation of a Downtown Central Business Improvement District (Downtown CBID); and

WHEREAS, the petition for the creation of the Downtown CBID submitted by a majority of the property owners representing two-thirds of the assessed value of real property within the area provided that the total estimated cost of the improvements, services, and other uses proposed for the Downtown CBID is $1,228,594 for 2008, which requires an initial assessment rate of 0.2361 per $100 of assessed value of real property; and

WHEREAS, Section 2.177.080.C. of Ordinance No. BL2007-1312 provides that the above-noted special assessment shall be levied in 2008; and

WHEREAS, in order to generate $1,228,594 for 2008, as provided in the petition, it is necessary that Ordinance No. BL2007-1312 be amended to allow the special assessment to be levied in 2007, which assessment is to be paid with the regular property tax payments due not later than February 28, 2008; and

WHEREAS, Tenn. Code Ann. § 7-84-522(f) provides that the governing body of the municipality must hold a public hearing to change the rate or impose an additional rate of special assessment; and

WHEREAS, the public hearing procedure outlined in Tenn. Code Ann. § 7-84-514 provides that notice of the public hearing shall be given by publishing a notice once a week for three consecutive weeks in a newspaper of general circulation in the municipality, which public hearing shall be at least seven days following the date of publication of the third and final notice; and

WHEREAS, pursuant to Tenn. Code Ann. § 7-84-515, the public hearing is to take place prior to the third and final reading on the ordinance; and

WHEREAS, it is in the best interest of the citizens of Nashville and Davidson County that Ordinance No. BL2007-1312 be amended, after holding a public hearing, to change the date of assessment to 2007.

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

Section 1. That Ordinance No. BL2007-1312, as amended, is hereby amended as follows:

1. Be deleting the phrase “Ordinance No. BL2004-1064”, wherein it appears in the first recital clause, and substituting in lieu thereof the phrase “Ordinance No. BL2002-1064”.

2. By amending the new Metropolitan Code Section 2.177.080 by deleting the phrase “Beginning in 2008”, wherein it appears in subsection C., and substituting in lieu thereof the phrase “Beginning in 2007”.

3. By amending the new Metropolitan Code Section 2.177.080 by deleting the phrase “Section 2.08.070(B)”, wherein it appears in subsection E., and substituting in lieu thereof the phrase “Section 2.177.080(B)”.

4. By deleting the catchline “Section 2.174.090 Dissolution of the District Management Corporation”, and substituting in lieu thereof the catchline “Section 2.177.090 Dissolution of the District Management Corporation”.

5. By deleting Section 3 in its entirety and substituting in lieu thereof the following new Section 3:

“SECTION 3. Chapter 2.174 of the Metropolitan Code is hereby repealed in its entirety upon the enactment of this ordinance.”

Section 2. This Ordinance shall take effect from and after is enactment, the welfare of The Metropolitan Government of Nashville and Davidson County requiring it.

Sponsored by: Mike Jameson

Amendment No. 1
To
Substitute Ordinance No. BL2007-1

Madam President:

I move to amend Substitute Ordinance No. BL2007-1 by deleting the date “February 28, 2008”, wherein it appears in the fourth recital clause, and substituting in lieu thereof the date “February 29, 2008”.

Sponsored by: Mike Jameson

LEGISLATIVE HISTORY
Introduced:	September 25, 2007
Passed First Reading:	September 25, 2007
Referred to:	Budget & Finance Committee
Substitute Introduced:	October 2, 2007
Passed Second Reading:	October 2, 2007
Public Hearing:	October 16, 2007
Amended:	October 16, 2007
Passed Third Reading:	October 16, 2007
Approved:	October 17, 2007
By: