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A resolution approving a participation agreement between the Metropolitan Government of Nashville and Davidson County, acting by and through the Metropolitan Department of Water and Sewerage Services, and Artist Lofts, LP, to provide sanitary sewer service improvements for Artist Lofts’ proposed development, as well as other existing properties in the area (MWS Project No. 25-SL-0060 and Proposal No. 2025M-041AG-001).
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WHEREAS, pursuant to the terms of the participation agreement, attached hereto as Exhibit 1, Artist Lofts, LP (“DEVELOPER”) in compliance with all Metropolitan Government of Nashville and Davidson County (“METRO”) requirements and specifications, has expressed a desire to improve the public sanitary sewer service to serve its development Artist Lofts Offsite and existing properties in the area, as shown in Exhibit 2 hereto attached, Project No. 25-SL-0060; and,
WHEREAS, METRO will inspect the construction and upon acceptance, will be responsible for ongoing operation and maintenance; and,
WHEREAS, METRO agrees to pay the lesser of fifty percent (50%) of the actual project costs not to exceed One Million, Five Hundred Thousand Dollars ($1,500,000.00) as a contribution towards these improvements; and,
WHEREAS, BL2022-1214 authorizes the Metropolitan Department of Water and Sewerage Services to enter into participation agreements funding infrastructure with developers by resolution of the Metropolitan Council; and,
WHEREAS, the Project is deemed to benefit both parties and the general community.
NOW, THEREFORE, BE IT RESOLVED BY THE COUNCIL OF THE METROPOLITAN GOVERNMENT OF NASHVILLE AND DAVIDSON COUNTY:
Section 1. That the Participation Agreement (Exhibit 1) between the Metropolitan Government of Nashville and Davidson County, acting by and through the Department of Water and Sewerage Services, and Artist Lofts, LP, attached hereto and incorporated herein, is hereby approved, and the Metropolitan Mayor is authorized to execute the same.
Section 2. One Million, Five Hundred Thousand Dollars ($1,500,000.00) from METRO is available in Fund No. 47410 to pay the lesser of fifty (50%) of the actual project costs or One Million, Five Hundred Thousand Dollars ($1,500,000.00) as a maximum contribution towards the Project.
Section 3. This resolution shall take effect from and after its final passage, the welfare of The Metropolitan Government of Nashville and Davidson County requiring it.
Agenda Analysis
Analysis
This resolution approves a participation agreement between the Metropolitan Department of Water and Sewerage Services (“Metro”) and Artist Lofts, LP, to provide sanitary sewer service improvements for Artist Lofts’ proposed development, as well as other existing properties in the area.
The agreement allows the Developer to design and install approximately 678 linear feet of 15-inch sanitary sewer main (PVC), 1,815 linear feet of 15-inch sanitary sewer main (DIP), and nine sewer manholes, to serve residents of the development near Bellshire Road. Metro will inspect the construction upon completion and will be responsible for ongoing operation and maintenance upon acceptance. Metro will pay the lesser of either 50 percent of the actual project costs or $1,500,000 as part of the agreement. All improvements must be operational by January 31, 2027, or the contract will be null and void.
Ordinance No. BL2022-1214 allows Metro to enter into participation agreements to fund infrastructure with developers by resolution of the Metropolitan Council. The Metropolitan Planning Commission has recommended approval of the agreement.
Fiscal Note: The Metropolitan Government will pay Artist Lofts, LP the lesser of 50% of the actual project costs not to exceed $1,500,000 as contribution towards the sanitary sewer service improvements project.