SUBSTITUTE ORDINANCE NO. BL2010-806

Be it enacted by the Council of The Metropolitan Government of Nashville and Davidson County:

Section 1. Section 2.210.010 of Metropolitan Code is amended by deleting the definition of “Corporate headquarters” in its entirety and inserting the following new definition:

"Corporate headquarters" means the international, national or regional headquarters of a well known and successful company, comparable, but not limited to, companies on the Fortune 500 listing, the location thereof within the boundaries of the metropolitan government is expected to result in the creation of at least five hundred additional jobs within the boundaries of the metropolitan government during the first five years of operations or during the first five years of an expansion of operations.

Section 2. Section 2.210.010 of Metropolitan Code is amended by adding the following new definition:

“ECD” means the Mayor’s Office of Economic and Community Development.

Section 3. Section 2.210.010 of Metropolitan Code is amended by deleting the definition of “Technology firm” in its entirety and inserting the following new definition:

"Technology firm" means the manufacturing facilities, offices, distribution facilities, customer support or call center facilities of a well known and successful company, comparable, but not limited to, companies on the Fortune 500 listing, involved in the servicing, manufacturing, or assembly of computers or telecommunications equipment or component parts thereof, if the location thereof within the boundaries of the metropolitan government is expected to result in the creation of at least five hundred new jobs within the boundaries of the metropolitan government during the first five years of operations or during the first five years of an expansion of operations.

Section 4. Section 2.210.020 of Metropolitan Code is amended by designating the current section as section “A” and adding the following new section “B”:

B. Upon the ECD being contacted by a qualified company, the ECD may recommend that the metropolitan government make an economic and community development incentive grant to the Board for the purposes described in this section, subject to approval as provided in Section 2.210.030 of this Code, in order to encourage economic and community development within the boundaries of the metropolitan government. The actual amount of the economic and community development incentive grant and the period of such grant shall be determined taking into account, among other things, the number of jobs created, the amount of revenue from all sources that is anticipated to be received by the metropolitan government with respect to the location of the qualified company and its operations and other economic and community development opportunities that the qualified company is expected to create. Any grant made in accordance with the provisions of this section 2.210.020(B) will be memorialized by an agreement between the metropolitan government and the qualified company, pursuant to which the metropolitan government will authorize the Board to utilize such economic and community development incentive grants to reimburse the qualified company for all or part of its documented expenditures related to the acquisition, preparation or occupancy of office space and other facilities, costs of moving to or relocating within the area of the Metropolitan , and costs associated with employee training.

Section 5. This Ordinance shall take effect from and after its adoption, the welfare of The Metropolitan Government of Nashville and Davidson County requiring it.

Sponsored by: Megan Barry

LEGISLATIVE HISTORY
Introduced:	December 7, 2010
Passed First Reading:	December 7, 2010
Referred to:	Budget & Finance Committee
Deferred:	December 21, 2010
Substitute Introduced:	January 18, 2011
Passed Second Reading:	January 18, 2011
Passed Third Reading:	February 1, 2011
Approved:	February 2, 2011
By: