ORDINANCE NO. BL2008-120

An ordinance approving a lease agreement between Firstcal Industrial 2 Acquisition, LLC and The Metropolitan Government of Nashville and Davidson County, acting by and through the Nashville Career Advancement Center, for certain real property located at 621 Mainstream Drive, Nashville, Tennessee, 37228, commonly known as Corners II (Proposal 2008M-002).

WHEREAS, Firstcal Industrial 2 Acquisition, LLC owns certain real property located at 621 Mainstream Drive, Nashville, Tennessee, 37228, commonly known as Corners II, and that First Industrial 2 Acquisition, LLC and the Metropolitan Government have negotiated the attached lease agreement; and,

WHEREAS, the Metropolitan Government has determined that the aforesaid property is needed to provide office space for the Nashville Career Advancement Center; and,

WHEREAS, the Director of Public Property Administration is authorized to lease real property, subject to the approval of the Metropolitan County Council and Mayor.

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

SECTION 1. The Lease Agreement between Firstcal Industrial 2 Acquisition, LLC and The Metropolitan Government of Nashville and Davidson County, for rental in an amount not to exceed $232,511.00 for the first year with 3% annual increases and for a term beginning on October 1, 2007 and ending on September 30, 2010, a copy of which is attached hereto and incorporated herein, and the same is hereby approved.

SECTION 2. The rent shall be paid out of the 31000 Fund.

SECTION 3. That any amendments to this Lease Agreement shall be approved by resolution of the Metropolitan Council receiving twenty-one affirmative votes.

SECTION 4. 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: Frank Harrison, Erik Cole

LEGISLATIVE HISTORY
Introduced:	February 5, 2008
Passed First Reading:	February 5, 2008
Referred to:	Planning Commission - Approved Budget & Finance Committee Planning & Zoning Committee
Deferred to March 18, 2008:	February 19, 2008
Passed Second Reading:	March 18, 2008
Passed Third Reading:	April 1, 2008
Approved:	April 9, 2008
By: