RESOLUTION NO. RS2011-1708

RESOLUTION NO. RS2011-1708

A resolution setting a public hearing regarding the acquisition and financing of certain public improvements within the proposed Biltmore Ridges Development (the “Development”) and the assessment of costs against the owners of properties within the Development.

WHEREAS, Nashville Biltmore LP (the “Developer”) has acquired approximately 2,000 acres of real property located within the Metropolitan Government of Nashville and Davidson County (Tennessee) (the “Metropolitan Government”) near the intersection of Interstate 40 and McCrory Lane on which the Developer is developing a mixed-use development known as Biltmore Ridges (the “Development”), as shown on the map attached hereto as “Exhibit A”, comprising retail shopping, restaurant, office, hotels, townhomes, single and multi-family housing and other uses, and

WHEREAS, pursuant to Tenn. Code Ann. §§ 7-32-101 et seq. and §§ 7-33-101 et seq. (collectively, the “Assessment Act”), the Metropolitan Government may construct, acquire and/or facilitate the public acquisition or public construction of certain public infrastructure improvements (the “Improvements”) related to the Development; and

WHEREAS, pursuant to the Assessment Act, the Metropolitan Government may issue, or cause to be issued, special assessment revenue bonds to finance the costs of the Improvements; and

WHEREAS, pursuant to the Assessment Act, the Metropolitan Government may assess the costs of acquiring the Improvements against the owners of properties within the Development; and

WHEREAS, the Metropolitan Government proposes to consider (i) acquiring or facilitating the acquisition of the Improvements and (ii) assessing the costs thereof against the owners of properties within the Development; and

WHEREAS, the Assessment Act requires a public hearing regarding said acquisition and assessment prior to consideration being given by the Metropolitan Council; and

WHEREAS, a legal notice stating the date, time and place of said public hearing must be published in a newspaper of general circulation in the locality where the project is situated and mailed to each property owner within the Development.

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

Section 1. That at the meeting of the Metropolitan Council to be held on Tuesday, August 2, 2011, at 6:30 p.m. in the Metropolitan Council Chamber on the second floor of the Metropolitan Courthouse, Nashville, Tennessee, the Metropolitan Council shall conduct a public hearing relative to the proposed acquisition of the Improvements and the assessment against the owners of properties within the Development in the manner provided by the Assessment Act, at which hearing any person or organization desiring to be heard regarding the proposed plan will be afforded such an opportunity.

Section 2. That the Metropolitan Clerk is hereby directed to have published in The Tennessean, being a daily newspaper of general circulation in Nashville, Tennessee, in an issue published not later than June 29, 2011, a legal notice declaring that a public hearing will be held at the time and place aforesaid in the manner prescribed by law. The legal notice shall be approved by the Department of Law. The legal notice shall instruct members of the public as to where they may obtain a map of the Development and a copy of the proposed Improvement acquisition agreement to be considered by the Metropolitan Council. The Metropolitan Clerk is authorized to make Exhibit A and the copy of the proposed Improvement acquisition agreement available to the public.

Section 3. That the Metropolitan Clerk is hereby directed to give written notice of the public hearing to each of the owners or property within the Development, a list of such properties attached hereto as “Exhibit B”, as required by law.

Section 4. That this Resolution shall take effect from and after its adoption, the welfare of the Metropolitan Government of Nashville and Davidson County requiring it.

LEGISLATIVE HISTORY
Referred to:	Budget & Finance Committee
Introduced:	June 21, 2011
Adopted:	June 21, 2011
Approved:	June 22, 2011
By: