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A resolution to approve the Second 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 2025M-063AG-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 executed a First Amendment to said Lease Agreement on February 21, 2023, which lease amendment was approved by Resolution RS2023-2019; and,
WHEREAS, Metro and Joslin have agreed to a Second Amendment to the Lease Agreement to extend the term of the 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 Second 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 second amendment to a lease agreement between the Metropolitan Government (“Metro”) and Joslin Sign and Maintenance Company, Inc. (“Joslin”), previously approved by Ordinance No. BL2018-1041 and amended by Resolution No. RS2023-2019.
The existing lease agreement provides 97 parking spaces at 630 Murfreesboro Pike for Metro use. BL2018-1041 provided that amendments to the agreement may be approved by resolution with 21 affirmative votes. The first amendment extended the lease term through February 2026 and increased the rent to $7,000 per month.
This amendment extends the lease term for an additional 24 months through March 1, 2028 at the current price of $7,000 per month.
Fiscal Note: This second amendment will not change the lease amount of $7,000 per month for the 97 parking spaces of the new police headquarters with Joslin Sign and Maintenance Company, Inc, and extends the term of the lease for an additional twenty-four months.