RESOLUTION NO. RS2012-149

A resolution approving an agreement between the Metropolitan Government of Nashville and Davidson County and the Nashville Entrepreneur Center regarding implementation and funding of a FastTrack Infrastructure Development Program grant.

WHEREAS, Ordinance No. BL2004-382 provided that all agreements, contracts, and grants relating to the Metropolitan Government's participation in the FastTrack Infrastructure Development Program ("FIDP") may be approved by resolution of Council receiving twenty-one affirmative votes; and,

WHEREAS, Resolution No. RS2011-29 approved an application to the Tennessee Department of Economic and Community Development for an FIDP grant; and,

WHEREAS, the attached agreement between the Metropolitan Government of Nashville and Davidson County and the Nashville Entrepreneur Center specifies the parties' obligations regarding implementation and funding of an FIDP grant in the event such grant is awarded by the State of Tennessee; and,

WHEREAS, the anticipated FIDP grant includes an estimated award of $700,000 to the Metropolitan Government of Nashville and Davidson County and an estimated required match of $528,915 in private funds from the Nashville Entrepreneur Center to rehabilitate and renovate building one of the trolley barns at Rolling Mill Hill in downtown Nashville for the Nashville Entrepreneur Center headquarters.

WHEREAS, approval of the agreement will benefit the citizens of the Metropolitan Government of Nashville and Davidson County.

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

Section 1. That the agreement between The Metropolitan Government of Nashville and Davidson County and the Nashville Entrepreneur Center, attached hereto and incorporated herein, is approved, and the Mayor is authorized to execute the same.

Section 2. That any amendments to the terms of the agreement must be approved by resolution of the Metropolitan Council receiving twenty-one affirmative votes.

Section 3. 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

Attachment(s) on file in the Metropolitan Clerk's Office

LEGISLATIVE HISTORY
Referred to:	Budget & Finance Committee Public Works Committee
Introduced:	February 7, 2012
Adopted:	February 7, 2012
Approved:	February 9, 2012
By: