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A resolution approving an option agreement between the Metropolitan Government of Nashville and Davidson County and Hawkins Nashville L.L.C. and 915 Hawkins LLC authorizing the purchase of certain property located at 930 South Street and 1001 Hawkins Street (Parcel Nos. 10502050800 and10501061100); (Proposal No. 2026M-005PR-001).
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WHEREAS, the Metropolitan Government of Nashville and Davidson County and Hawkins Nashville L.L.C. and 915 Hawkins LLC desire to enter into an Option Agreement, attached hereto and incorporated herein, pertaining to certain properties (“Properties”) owned by Hawkins Nashville L.L.C. and 915 Hawkins LLC located at 930 South Street and 1001 Hawkins Street (Parcel Nos. 10502050800 and10501061100); and,
WHEREAS, Section 2.24.240(K) of the Metropolitan Code of Laws provides:
Where land in fee simple is being purchased for purposes, including school purposes, other than rights-of-way for highways, streets, roads, alleys, and other places for vehicular traffic, the director of public property administration or other officer of the metropolitan government 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. No such resolution relating to an option for property to be used for school purposes shall be approved until a public hearing has been conducted as provided in Metropolitan Code of Laws Section 2.24.240(I); and,
WHEREAS, pursuant to section 2.24.240(K) of the Metropolitan Code of Laws, the Director of Public Property Administration has negotiated the attached Option Agreement; and,
WHEREAS, approval of the Option Agreement and authorizing the Director of Public Property to purchase said Properties 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 Agreement attached hereto, between the Metropolitan Government of Nashville and Davidson County and Hawkins Nashville L.L.C. and 915 Hawkins LLC, granting the Metropolitan Government an option to purchase the Property located at 930 South Street and 1001 Hawkins Street (Parcel Nos. 10502050800 and10501061100), is 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 authorizes the Director of Public Property, or his designee, to exercise an option agreement for the purchase of properties located at 930 King Hollands Avenue, formerly 930 South Street, and 1001 Hawkins Street for use by the Nashville Department of Multimodal Infrastructure and Transportation.
The option is to acquire two properties. The first property is 36,940 square feet, or 0.85 acres, located at 930 King Hollands Avenue. The purchase would include all fixtures buildings and improvements including a 1,188 square foot building. The second property is a 49,635 square foot, or 1.14 acres, property located at 1001 Hawkins Street. The purchase would include all fixtures, buildings, and improvements, including a 37,572 square foot office space with furnishings, fixtures and equipment.
Pursuant to Metropolitan Code of Laws subsection 2.24.240.K, option agreements for the purchase of real property intended for uses other than vehicular right of way may be approved by resolution.
Fiscal Note: According to the Assessor of Property’s website, the appraised value of 1001 Hawkins St, a 1.14-acre parcel, is $9,024,300 and 930 Kings Holland Ave, a 0.85-acre parcel, is $5,992,900.