title
A resolution authorizing the Director of Public Property, or his designee, to exercise option agreements for the purchase of three flood-prone properties, located at 5340 Buena Vista Pike, 218 Blackman Road and 517 Paragon Mills Road, for Metro Water Services. (Proposal No. 2025M-010PR-001).
body
WHEREAS, it is in the public interest for The Metropolitan Government of Nashville & Davidson County to acquire certain flood-prone property; and,
WHEREAS, the properties located at 5340 Buena Vista Pike, 218 Blackman Road and 517 Paragon Mills Road are flood-prone; and,
WHEREAS, Section 2.24.250(K) 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 the terms of the agreements attached hereto and incorporated herein as Exhibits 1-3, the Metropolitan Government holds an option to purchase those certain real properties as shown in Section 1 below; and,
WHEREAS, The Metropolitan Planning Commission approved mandatory referral No. 2025M-010PR-001 on July 24, 2025, for acquisition of the properties; and,
WHEREAS, it is in the best interest of the citizens of Nashville and Davidson County to approve the purchase of said properties.
Now, therefore, be it resolved by the Council of The Metropolitan Government of Nashville and Davidson County:
Section 1. The Director of Public Property, or his designee, is hereby authorized to exercise the options to purchase the properties as shown on Exhibits 1-3, which are attached hereto and incorporated by reference and to execute the necessary documents pertaining thereto.
Map & Parcel: Address:
04900013808 5340 Buena Vista Pike
14706012400 218 Blackman Road
13300006700 517 Paragon Mills Road
Section 2. This resolution shall take effect upon passage, 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 option agreements for the purchase of three flood-prone properties at 5340 Buena Vista Pike, 218 Blackman Road, and 517 Paragon Mills Road for the Department of Water and Sewerage Services.
The first option is to acquire a 1.02 acre property at 5340 Buena Vista Pike with a fair market value determined to be $368,500. The second option is to acquire a 0.34 acre property at 218 Blackman Road with a fair market value determined to be $535,000. The third option is to acquire a 2.00 acre property at 517 Paragon Mills Road with a fair market value determined to be $495,000.
Pursuant to Metropolitan Code of Laws section 2.24.250(F), option agreements for the purchase of real property intended for uses other than vehicular rights of way may be approved by resolution.
The acquisition of these properties has been approved by the Planning Commission.
Fiscal Note: According to the Assessor of Property’s website, the appraised value of 5340 Buena Vista Pike, a 1.02-acre parcel, is $298,400, for 218 Blackman Road, a 0.34-acre parcel, is $403,100, and for 517 Paragon Mills Road, a 2.00-acre parcel, is $500,200.