ORDINANCE NO. BL2016-435

An ordinance amending BL2016-334, which authorized the Metropolitan Development and Housing Agency to negotiate and accept payments in lieu of ad valorem taxes from its lessees operating low income housing tax credit properties pursuant to Tennessee Code Annotated 13-20-104 and revised the program for determining qualifications and eligibility for such payments.

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

I. The text of Ordinance BL2016-334 is amended by deleting Section 1 in its entirety and substituting therefore the following:

SECTION 1: That the Metropolitan Council hereby finds that the PILOT Program attached as Exhibit A hereto and incorporated herein furthers MDHA’s public purpose and approves the PILOT Program.

II. That this Ordinance shall take effect from and after its final passage, the welfare of The Metropolitan Government of Nashville and Davidson County requiring it.

Sponsored by: Bob Mendes

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LEGISLATIVE HISTORY
Introduced:	October 4, 2016
Passed First Reading:	October 4, 2016
Referred to:	Budget and Finance Committee
Passed Second Reading:	October 18, 2016
Passed Third Reading:	November 1, 2016
Approved:	November 2, 2016
By: