title
A resolution approving an agreement for the purchase of a parcel of property near the intersection of Youngs Lane and Baptist World Center Drive for a new fire station. (Proposal No. 2024M-031AG-001).
body
WHEREAS, the American Baptist Theological Seminary (“ABTS”) owns a parcel of property (the “ABTS Tract;” Parcel ID Number 07105002700); and,
WHEREAS, a portion (the “Property”) of the ABTS Tract is well suited and located for a new fire station; and,
WHEREAS, pursuant to the terms of the option agreement (the “Agreement”) attached as Exhibit 1 to this resolution, ABTS proposes to sell the Property to the Metropolitan Government as a site for a new fire station; and,
WHEREAS, pursuant to Metropolitan Code of Law § 2.24.250(F), option agreements for the purchase of real property intended for uses other than vehicular rights of way may be approved by resolution.
NOW, THEREFORE, BE IT RESOLVED BY THE COUNCIL OF THE METROPOLITAN GOVERNMENT OF NASHVILLE AND DAVIDSON COUNTY:
Section 1. The Agreement (Exhibit 1) is hereby approved, and the Director of Public Property or designee is authorized to execute it and such other documents as may be customary and necessary to carry out the transaction contemplated therein.
Section 2. Amendments to the Agreement may be authorized by resolution of the Metropolitan Council.
Section 3. 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 an option agreement to purchase a parcel of property between the Metropolitan Government and American Baptist Theological Seminary. The option agreement would permit the Metropolitan Government to purchase the property located near the intersection of Youngs Lane and Baptist World Center Drive. If the option is exercised, the Metropolitan Government would pay $3,100,000 for this property, which consists of a total of approximately three acres.
Pursuant to Metropolitan Code of Law section 2.24.250(F), option agreements for the purchase of real property intended for uses other than vehicular rights of way may be approved by resolution.
This proposal has been approved by the Planning Commission.
Fiscal Note: The appraised value of parcel 071 05 0 027.00, 0 Baptist World Center Dr., according to the Assessor of Property’s website, is $343,300 for the 38.74-acre parcel.