ORDINANCE NO. BL2014-948

An ordinance approving Amendment No. 3 to the Five Points Redevelopment Plan (Proposal No. 2014M-005OT-001).

WHEREAS, By Ordinance No. 89-1011, as amended, the Metropolitan Council of the Metropolitan Government of Nashville and Davison County, Tennessee approved the “Five Points Redevelopment Plan”; and

WHEREAS, By Ordinance No. 91-1522, as amended, the Metropolitan Council approved Amendment No. 1 to the “Five Points Redevelopment Plan”; and

WHEREAS, By Ordinance No. BL2005-510, as amended, the Metropolitan Council approved Amendment No. 2 to the “Five Points Redevelopment Plan”; and

WHEREAS, There has been prepared and referred to the Metropolitan Council for review and approval Amendment No. 3 to the “Five Points Redevelopment Plan” consisting of certain changes in the text and exhibit of the redevelopment plan; and

WHEREAS, Said Amendment to the aforesaid redevelopment plan has been approved by the Board of Commissioners of the Metropolitan Development and Housing Agency; and

WHEREAS, The Metropolitan Council has held a public hearing and had carefully considered and reviewed the proposed amendment to the redevelopment plan.

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

Section 1. That the Five Points Redevelopment Plan is amended by replacing “R.P. Map 2” with a new “R.P. Map 2” dated October 14, 2014, which is attached hereto as Exhibit A and made part of this ordinance. Any reference in the Plan text to R.P. Map 2 shall be construed to refer to the new map, dated October 14, 2014.

Section 2. That the Five Points Redevelopment Plan is amended by replacing Sections C.2.a. “Permitted Uses,” paragraphs a.(3.) “Neighborhood Commercial” and a.(4.) “Mixed-Use,” with the following:
Section C.2.a.(3). Mixed Use
Intent: To provide for mixed neighborhood commercial and residential uses in the same district or structure; to support the conservation and adaptive reuse of existing residential structures; and to additionally allow for facilities, businesses, services and other uses which serve and support the contiguous residential neighborhoods and for specialty services catering to a larger market.

Uses: Any of the uses permitted under General Residential in addition to: business, professional and non-profit organization offices; Banks, loan offices, insurance offices, and other financial institutions but not including cash-checking businesses; Retail establishments for the convenience and service of the ultimate consumer, but not including motor vehicle sales-rooms or lots; Retail businesses may include those that manufacture articles to be sold on the premises only; Restaurants or other eating and drinking establishments but not drive in eating or drinking facilities; Bed-and-breakfast inns, but not group living quarters for semi-transient or permanent residents.”

Section 3. That the Five Points Redevelopment Plan is amended by replacing Section G "Tax Increment" of the Plan in its entirety and replacing it with the following:
“At this point in the duration of the Five Points Redevelopment District, most of the new development in the District will occur without the need for financial assistance. However, streetscaping and other infrastructure improvements need to be addressed. To accommodate new development and insure the $330,000 of public investment that has gone into revitalizing the Five Points commercial district is continually supported, $670,000 of additional TIF capacity will be made available for streetscape and other infrastructure improvements within the district.

The total amount of bonded or other indebtedness to be incurred may not exceed $1 million with a final maturity on or before 12/31/2020, provided that the principal amount of any debt refunded or refinanced shall not be counted in computing such total. Upon retirement of all bonds, loans, or other indebtedness incurred and payable from tax increment funds at such time as moneys on deposit in the tax increment fund or funds are sufficient for such a purpose, all property taxes resulting from the incremental development of the Project shall be retained by the Metropolitan Government. Activities or improvements eligible for tax increment financing shall include planning, engineering and legal expenses; administrative costs; land acquisition; relocation; site clearance; and streets, pedestrian-ways, utilities, public open spaces, parking garages; and other uses as allowed under State law, or other structures or other public improvements necessary for carrying out the Five Points Redevelopment Plan, or other adopted or approved redevelopment plans.”

Section 4. This Ordinance shall take effect from and after its enactment, the welfare of The Metropolitan Government of Nashville and Davidson County requiring it.

Sponsored by: Peter Westerholm, Anthony Davis

View Exhibit

Amendment No. 1
To
Ordinance No. BL2014-948

Madam President:

I move to amend Ordinance No. BL2014-948 by replacing the map “R.P. Map 2” incorporated into Section 1 of this Ordinance with the attached new “R.P. Map 2”, which reflects that the property located at 1103 Holly Street is designated for Mixed Use.

The purpose of this Amendment No. 1 is to allow the uses currently on the property, which are consistent with the base zoning district, to remain.

Sponsored by: Charlie Tygard

LEGISLATIVE HISTORY
Introduced:	November 18, 2014
Passed First Reading:	November 18, 2014
Deferred to February 3, 2015 (Public Hearing):	November 18, 2014
Referred to:	Planning Commission Federal Grants Review Committee Planning & Zoning Committee
Passed Second Reading:	February 3, 2015
Deferred:	February 24, 2015
Amended:	March 3, 2015
Passed Third Reading:	March 3, 2015
Approved:	March 4, 2015
By: