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A resolution authorizing the Director of Public Property, or his designee, to exercise an option agreement for the purchase of a flood-prone property, located at 720 Hite Street, for Metro Water Services (Proposal No. 2023M-012PR-001).
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WHEREAS, it is in the public interest for The Metropolitan Government of Nashville & Davidson County to acquire certain flood-prone property; and,
WHEREAS, the property located at 720 Hite Street is flood-prone; and,
WHEREAS, Section 2.24.250(F) of the Metropolitan Code of Laws provides:
Where land in fee simple is being purchased for purposes other than for rights-of-way for highways, streets, roads, alleys and other places for vehicular traffic, the director of public property administration shall negotiate for the purchase of such property and seek to obtain from the owner an option to sell to the Metropolitan government at a fixed price, subject to the approval of the Metropolitan Council by resolution, and no purchase shall be consummated until it has been so approved by the Metropolitan Council; and,
WHEREAS, pursuant to the terms of the agreement attached hereto and incorporated herein as Exhibit 1, the Metropolitan Government holds an option to purchase that certain real property known as Davidson County Tax Map 091-10-0 Parcel 110.00 (as shown on Exhibit 1); and,
WHEREAS, The Metropolitan Planning Commission approved mandatory referral No. 2023M-012PR-001 on August 2, 2023, for acquisition of the property; and
WHEREAS, it is in the best interest of the citizens of Nashville and Davidson County to approve the purchase of said property.
Now, therefore, be it resolved by the Council of The Metropolitan Government of Nashville and Davidson County:
Section 1. The Director of Public Property, or his designee, is hereby authorized to exercise the option to purchase that property as shown on Exhibit 1, which is attached hereto and incorporated by reference and to execute the necessary documents pertaining thereto.
Map & Parcel: Address:
09110011000 720 Hite Street
Section 2. This resolution shall take effect upon passage, the welfare of The Metropolitan Government of Nashville and Davidson County requiring it.
Agenda Analysis
Analysis
This resolution authorizes the purchase of one flood-prone property located at 720 Hite Street. This purchase is part of Metro Water Services’ ongoing program to purchase flood-prone properties. Metro has acquired the option to purchase this property for $440,000.
This resolution has been approved by the Planning Commission.
Fiscal Note: The appraised value of this property, according to the Assessor of Property’s website, is $249,600 for the 0.19-acre parcel.