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A resolution to approve the First Amendment to the Lease Agreement between The Metropolitan Government of Nashville and Davidson County and Joslin Sign and Maintenance Company, Inc. for the real property located at 630 Murfreesboro Pike, Nashville, Tennessee, for parking purposes. (Proposal No 2023M-001AG-001).
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WHEREAS, The Metropolitan Government of Nashville and Davidson County (“Metro”) and Joslin Sign and Maintenance Company, Inc. (“Joslin”) are parties to a Lease Agreement approved by Ordinance BL2018-1041 to provide approximately 97 parking spaces for the new police headquarters; and,
WHEREAS, Metro and Joslin Sign and Maintenance Company, Inc. have agreed to a First Amendment to the Lease Agreement; and,
WHEREAS, it is to the benefit of the citizens of The Metropolitan Government of Nashville and Davidson County that this First Amendment to the Lease Agreement be approved.
NOW, THEREFORE, BE IT RESOLVED BY THE COUNCIL OF THE METROPOLITAN GOVERNMENT OF NASHVILLE AND DAVIDSON COUNTY:
Section 1. That this First Amendment to the Lease Agreement, a copy of which is attached hereto and incorporated herein, is hereby approved and the Director of Public Property or his designee is authorized to execute it on behalf of the Metropolitan Government.
Section 2. This resolution shall take effect from and after its adoption, the welfare of The Metropolitan Government of Nashville and Davidson County requiring it.
Agenda Analysis
Analysis
This resolution approves the first amendment to a lease agreement between the Metropolitan Government and Joslin Sign and Maintenance Company, Inc. (“Joslin”), previously approved by Ordinance No. BL2018-1041. The lease agreement provides 97 parking spaces at 630 Murfreesboro Pike for use by the police headquarters. Under the agreement, Metro pays Joslin $4,000 per month for the use of this property. This agreement is set to expire on February 8, 2023. That ordinance provided that amendments to the agreement may be approved by resolution.
This amendment extends the lease term through February 2026. The rent would be increased to $7,000 per month.
Fiscal Note: This amendment will increase the rent that Metro pays from $4,000 to $7,000 per month during the extended term.