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A resolution approving three option agreements authorizing the purchase of properties for a new elementary school in Antioch, Tennessee. (Proposal No. 2024M-019AG-001).
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WHEREAS, it is in the public interest for the Metropolitan Government of Nashville and Davidson County to acquire certain property located at 555 Bell Road (Parcel No. 14900013100), 567 Bell Road (Parcel No. 14900017900), 0 Bell Road (Parcel No. 14900023200 ), 1058 Rural Hill Road (Parcel No. 14900012200 ), 1050 Rural Hill Road (Parcel No. 14900013300), 1070 Rural Hill Road (Parcel No. 14900034100 ), and 5211 Rice Road (Parcel No. 14900012300 ) for the construction of a new elementary school; 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 section 2.24.250(F) of the Metropolitan Code of Laws, the Director of Public Property Administration has negotiated the attached Option Agreements; and,
WHEREAS, the Metropolitan Board of Education recommends approval of the acquisition of the Property; and,
WHEREAS, approval of the Option Agreements and authorizing the Director of Public Property to purchase said Property 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. The Option Agreements attached hereto granting the Metropolitan Government an option to purchase the Properties located at 555 Bell Road (Parcel No. 14900013100), 567 Bell Road (Parcel No. 14900017900), 0 Bell Road (Parcel No. 14900023200 ), 1058 Rural Hill Road (Parcel No. 14900012200 ), 1050 Rural Hill Road (Parcel No. 14900013300), 1070 Rural Hill Road (Parcel No. 14900034100 ), and 5211 Rice Road (Parcel No. 14900012300 ) are hereby approved.
Section 2. The Director of Public Property Administration, or his designee, is hereby authorized to execute and record such documents as may be necessary to carry out the purchase of said Property in substantially the form of the Option Agreement attached hereto.
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 three option agreements authorizing the purchase of properties for a new elementary school in Antioch.
The first option agreement authorizes the Metropolitan Government to acquire a total of 10.89 acres for a total of $3,600,000. The individual properties are as follows:
• 0 Bell Road and 1058 Rural Hill Road, owned by James M. Lenahan and Deborah J. Lenahan (Metro Assessor appraised value - $93,400)
• 1050 Rural Hill Road, owned by Engles J. Pope and Nancy M. Pope (Metro Assessor appraised value - $264,300)
• 1070 Rural Hill Road, owned by Bridget A. Jackson (Metro Assessor appraised value - $176,500)
• 5211 Rice Road, owed by Bridget A. Jackson and Kimberly Craighead (Metro Assessor appraised value - $214,800)
The second option agreement authorizes the Metropolitan Government to acquire .98 acres owned by Billy R. Riley located at 567 Bell Road. The Metropolitan Government would acquire this property for $345,000.
The third option agreement authorizes the Metropolitan Government to acquire .71 acres owned by Paul H. Silveria and Ana Caroline Silveria located at 555 Bell Road. The Metropolitan Government would acquire this property for $550,000.
These acquisitions have been approved by the Planning Commission and the Metropolitan Board of Education.
Fiscal Note: According to the Property Assessor’s website, the total appraised value of the five properties subject to the first option agreement is $921,500, and the purchase price of these properties would be $3,600,000. For the second option agreement, the total appraised value of 567 Bell Road, parcel number 149-00-0-179.00, is $52,000, and the purchase price would be $345,000. For the third option agreement, the total appraised value for 555 Bell Road, parcel number 149-00-0-131.00, is $448,900, and purchase price would $550,000.