RESOLUTION NO. RS2011-29

A resolution approving an application for a Fasttrack Infrastructure Development Program grant from the Tennessee Department of Economic and Community Development to The Metropolitan Government of Nashville and Davidson County to rehabilitate and renovate a historic building to accommodate the Nashville Entrepreneur Center headquarters.

WHEREAS, the Tennessee Department of Economic and Community Development is accepting applications for its Fasttrack Infrastructure Development Program; and,

WHEREAS, the Metropolitan Government is eligible to participate in this grant program; and,

WHEREAS, the application prepared by the Nashville Entrepreneur Center states that the property to be renovated includes a trolley barn listed on the National Register of Historic Places and located on the Rolling Mill Hill property in downtown Nashville; and,

WHEREAS, the application estimates that 150 to 200 new jobs will be created annually as a result of the expansion and relocation of the Nashville Entrepreneur Center headquarters; and,

WHEREAS, the Nashville Entrepreneur Center is investing a minimum of $470,395 in private monies to match the anticipated $700,000 award from the Tennessee Department of Economic and Community Development; and,

WHEREAS, it is to the benefit of the citizens of the Metropolitan Government that this grant application be approved by the Metropolitan County Council and submitted to the Tennessee Department of Economic and Community Development.

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

Section 1. That the Metropolitan Government’s application for a Fasttrack Infastructure Development Program grant with an estimated award of $700,000 and an estimated required match of $470,395 in private funds from the Nashville Entrepreneur Center, is hereby approved, and the Metropolitan Government through its Department of Public Works is authorized to submit the attached application to the Tennessee Department of Economic and Community Development.

Section 2. That this resolution shall take effect from and after its adoption, the welfare of The Metropolitan Government of Nashville and Davidson County requiring it.

Sponsored by: Sean McGuire, Walter Hunt

LEGISLATIVE HISTORY
Referred to:	Budget & Finance Committee Public Works Committee
Introduced:	October 4, 2011
Adopted:	October 4, 2011
Approved:	October 6, 2011
By: