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A resolution approving Amendment 1 to the participation agreement between the Nashville Department of Transportation and Multimodal Infrastructure (NDOT) and GS Gallatin Pike Apartments Owner, LLC, a Delaware Limited Liability Company, for the construction of a sidewalk in front of 1401 Gallatin Pike.
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WHEREAS, the Parties entered into a participation agreement for construction of a sidewalk in front of 1401 Gallatin Pike (Proposal No. 2024M-045AG-002) (“the Agreement”); and,
WHEREAS, the Metropolitan Council approved the Agreement through RS2024-947; and,
WHEREAS, the construction costs of the project exceed the value of the Agreement; and,
WHEREAS, as set forth in Amendment 1 to the Agreement, attached hereto and incorporated herein, the parties now desire to increase the value of the Agreement by $200,000, to cover the costs of the project; and,
WHEREAS, Section 13.21.020 of the Metropolitan Code of Laws authorizes the Metropolitan Council to approve participation agreements between NDOT and developers by resolution; and,
WHEREAS, it is in the best interest of the Metropolitan Government and the citizens of Davidson County that Amendment 1 to the Agreement be approved.
NOW, THEREFORE, BE IT RESOLVED BY THE METROPOLITAN COUNCIL OF NASHVILLE AND DAVIDSON COUNTY:
Section 1. That Amendment 1 to the participation agreement between the Nashville Department of Transportation and Multimodal Infrastructure and GS Gallatin Pike Apartments Owner, LLC, a Delaware Limited Liability Company, for the construction of a sidewalk in front of 1401 Gallatin Pike, attached hereto and incorporated herein, is hereby approved and the Metropolitan Mayor is authorized to execute same.
Section 2. That 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 participation agreement between Nashville Department of Transportation and Multimodal Infrastructure (“NDOT”) and GS Gallatin Pike Apartments Owner, LLC (“Developer”).
Ordinance No. BL2023-137 allows NDOT to enter into participation agreements to fund the installation, operation, or maintenance of infrastructure projects and structures within the right-of-way by resolution of the Metropolitan Council.
Pursuant to Resolution No. RS2024-947, the original agreement required the Developer to construct sidewalk at 1401 Gallatin Pike North. The estimated cost of the project was $478,406. NDOT agreed to contribute up to the difference between the total cost to construct minus the cost for the original scope of work, not to exceed $500,000. The improvements were set to be completed by August 31, 2025.
The amendment increases NDOT’s contribution towards the construction by $200,000 to a total not to exceed $700,000. The additional funds would support the widening of Gallatin Pike and related sidewalks. Further, NDOT will use good faith efforts to cause Madison Suburban Utility District (“MSUD”) to reimburse the developer for the excess cost to install a new water main at the cost of $108,078.94. If NDOT is not able to cause MSUD to reimburse the developer, then the Metropolitan Government will reimburse the added expense.
Fiscal Note: This amendment increases Metro’s contribution towards the construction of a sidewalk in front of 1401 Gallatin Pike by $200,000, changing the total to the amount not to exceed $700,000 total contribution.