ORDINANCE NO. BL2016-254

ORDINANCE NO. BL2016-254

An ordinance authorizing the Director of Public Property Administration to execute a quitclaim deed for any property interests the Metropolitan Government may have in a portion of the right-of-way of Korean Veterans Boulevard and 7th Avenue South, and accepting consideration for same in the amount of $21,000.00 (Proposal No. 2016M-013AB-001).

WHEREAS, the portion of the right-of-way at Korean Veterans Boulevard and 7th Avenue South was acquired by the Tennessee Department of Transportation in the name of the Metropolitan Government of Nashville and Davidson County for Federal Project STP-M/HPP-5333(3) and State Project 19LPM-F2-062, using 80 percent state funds and 20 percent local funds; and,

WHEREAS, the Department of Transportation’s Excess Land Committee has recently evaluated a request to purchase the portion of the property in question and concluded that the property is surplus to highway needs and approved the requested conveyance; and,

WHEREAS, through the Department of Transportation’s Excess Land process it was determined, and the State and buyer agreed, that the fair value of this property amounts to One Hundred Five Thousand Dollars and no/100 dollars ($105,000.00); and,

WHEREAS, Mainland KVB, LLC, the buyer, has tendered the value to the State and the Metropolitan Government to acquire the property; and,

WHEREAS, the Metropolitan Government does not have any future use for this property for any public purpose; and,

WHEREAS, the State is requesting that the Metropolitan Government quitclaim any interest it may have in the property; and,

WHEREAS, it was further determined through the Department of Transportation’s Excess Land process that the Metropolitan Government's share of the total amount of the consideration to be paid by in exchange for the quitclaim would consist of Twenty One Thousand Dollars ($21,000.00) as the tract was acquired with 80 percent state funds and 20 percent local funds; and,

WHEREAS, it is in the parties’ best mutual interests to cooperate in quitclaiming the property to the buyer and to accept and fairly divide the consideration being tendered for that conveyance.

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

Section 1. That the Director of Public Property Administration is authorized to execute quitclaim deed attached hereto as Exhibit A and referenced herein conveying such interests as the Metropolitan Government may have in the areas described therein, further shown in a sketch attached hereto as Exhibit B, and to close on the transaction in exchange for the payment of Twenty One Thousand Dollars ($21,000.00).

Section 2. That the Metropolitan Government is hereby authorized to accept its share of the consideration received for quitclaiming any rights in may have in the properties referenced in the quitclaim, in the amount of Twenty One Thousand Dollars ($21,000.00).

Section 3. That this Ordinance shall take effect from and after its adoption, the welfare of The Metropolitan Government of Nashville and Davidson County requiring it.

LEGISLATIVE HISTORY
Introduced:	May 17, 2016
Passed First Reading:	May 17, 2016
Referred to:	Planning Commission - Approved Traffic & Parking Commission Budget & Finance Committee Planning, Zoning & Historical Committee Public Works Committee Traffic, Parking, & Transportation Committee
Passed Second Reading:	June 7, 2016
Passed Third Reading:	June 21, 2016
Approved:	June 22, 2016
By: