RESOLUTION NO. RS2015-1577

A resolution authorizing the Director of Public Property to exercise options to purchase property (Parcel ID Nos. 175-00-0-027.00, 175-00-0-105.00, 175-00-0-106.00, 175-00-0-029.00, 175-00-0-103.00, 175-00-0-030.00, 163-00-0-417.00, 163-00-0-389.00, 175-00-0-023.00, 175-00-0-126.00, 175-00-0-137.00, 175-00-0-214.00, 175-00-0-181.00, 175-00-0-213.00, 175-06-OA-161.00CO, 175-00-0-134.00, 175-00-0-139.00, 175-00-0-182.00, and 174-00-0-033.00) for The Metropolitan Government of Nashville and Davidson County and the Director of Finance to reimburse certain costs and accept a donation in the amount of $4,070,000 as a contribution towards the purchase (Proposal No. 2015M-023PR-001).

WHEREAS, Metropolitan Code of Laws § 2.24.250(F) provides that fixed-price options for the purchase of fee-simple interest in real property to be used for certain purposes may be approved by resolution of the Metropolitan Council; and,

WHEREAS, The Conservation Fund (“TCF”), a non-profit corporation, and the Joe C. Davis Foundation (the “Davis Foundation”), a Tennessee charitable trust, have long-standing commitments to the preservation of open spaces, including parks and wild areas; and,

WHEREAS, pursuant to the terms of the documents collectively attached to this resolution as Exhibit 1, TCF has obtained fixed-price options (“TCF Options”) to purchase the fee simple interest in certain parcels of property (“TCF Properties”; Parcel ID Nos. 163-00-0-417.00, 163-00-0-389.00, 175-00-0-023.00, 175-00-0-126.00, 175-00-0-137.00, 175-00-0-214.00, 175-00-0-081.00, 175-00-0-213.00, 175-06-OA-161.00CO, 175-00-0-134.00, 175-00-0-139.00, 175-00-0-182.00, and 174-00-0-033.00) for use as part of the Metropolitan Government’s Parks and Recreation system; and,

WHEREAS, pursuant to the terms of the document attached to this resolution as Exhibit 2, TCF has assigned the TCF Options to the Metropolitan Government, as permitted by their terms, and requests reimbursement in an amount not to exceed $400,000 in costs and fees TCF has incurred in connection with the preparation of surveys, title work, and the like with respect to TCF Properties; and,

WHEREAS, pursuant to the terms of the document attached to this resolution as Exhibit 3, the Davis Foundation has obtained a fixed-price option (the “ Foundation Option”) to purchase the fee simple interest in a parcel of property (the “Foundation Property”; Parcel ID Nos. 175-00-0-027.00, 175-00-0-105.00, 175-00-0-106.00, 175-00-0-029.00, 175-00-0-103.00 and 175-00-0-030.00) for use as part of the Metropolitan Government’s Parks and Recreation system; and

WHEREAS, pursuant to the terms of the document attached to this resolution as Exhibit 4, the Davis Foundation has assigned the Foundation Option to the Metropolitan Government, as permitted by its terms; and,

WHEREAS, as described in the letter attached to this resolution as Exhibit 5, the Davis Foundation proposes to donate $4,070,000 (the “Donation”) to the Metropolitan Government as a contribution towards the purchase price of the TCF Properties and the Foundation Property; and,

WHEREAS, purchase of TCF Properties and the Foundation Property, acceptance of the Donation and reimbursement of TCF as requested is in the best interest of the citizens of the Metropolitan Government.

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

Section 1. That the Director of Public Property Administration is hereby authorized to exercise TCF Options and the Foundation Option and to receive, execute, and record such documents as may be necessary to carry out the purchase of TCF Properties and the Foundation Property.

Section 2. That the Director of Finance is authorized to accept the Donation, to be used as a contribution towards purchase of TCF Properties and the Foundation Property.

Section 3. That the Director of Finance is authorized to reimburse TCF in the amount of $400,000 for survey costs and title work associated with conveyance of TCF Properties.

Section 4. This resolution shall take effect upon passage, the welfare of The Metropolitan Government of Nashville and Davidson County, Tennessee, requiring it.

Sponsored by: Bill Pridemore, Karen Bennett, Walter Hunt, Robert Duvall, Jacobia Dowell

If you would like a copy of the attachment to any ordinance or resolution, please email your request to the Metro Clerk's Office at metro.clerk@nashville.gov

LEGISLATIVE HISTORY
Referred to:	Planning Commission Budget & Finance Committee Parks, Library & Recreation Committee Planning & Zoning Committee
Introduced:	July 21, 2015
Adopted:	July 21, 2015
Approved:	July 22, 2015
By: