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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 SWAMI -SHREEJI HERMITAGE, LLC, to provide public sewer service improvements for Swami - Shreeji Hermitage’s proposed development, as well as other existing properties in the area (MWS Project No. 21-SL-0147 and Proposal No. 2026M-010AG-001).
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WHEREAS, pursuant to the terms of the participation agreement, attached hereto as Exhibit 1, SWAMI - SHREEJI HERMITAGE, LLC (“DEVELOPER”) in compliance with all Metropolitan Government of Nashville and Davidson County (“METRO”) requirements and specifications, will contract and oversee the construction of approximately 592 linear feet of 12-inch sanitary sewer main (PVC) and approximately 1,871 linear feet of 15-inch sanitary sewer main (PVC), to serve the Avid Hotel development, as shown in Exhibit 2 hereto attached, Project No. 21-SL-0147; 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 that benefit both parties, not to exceed Five Hundred Forty-Nine Thousand Eight Hundred Forty-Two Dollars and Thirty-Nine Cents ($549,842.39); and,
WHEREAS, as part of this project DEVELOPER further agrees to improve the remaining approximately 991 linear feet of public sewer main which has been determined to benefit the general community and the public sanitary sewer system and be reimbursed by METRO not to exceed Four Hundred Fifty Thousand One Hundred Fifty-Seven Dollars and Sixty-One Cents ($450,157.61); 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. 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 SWAMI - SHREEJI HERMITAGE, LLC to improve public sanitary sewer services in Davidson County, Tennessee, attached hereto and incorporated herein, is hereby approved, and the Director of Water and Sewer Services is authorized to execute the same.
Section 2. Five Hundred Forty-Nine Thousand Eight Hundred Forty-Two Dollars and Thirty-Nine Cents ($549,842.39) from Mcontribution oflable in Fund No. 47410 to pay the lesser of fifty percent (50%) of the project costs that benefit both parties and Four Hundred Fifty Thousand One Hundred Fifty-Seven Dollars and Sixty-One Cents ($450,157.61) from METRO is available in Fund No. 47410 to reimburse DEVELOPER for the additional work being completed, for a total contribution of One Million Dollars ($1,000,000.00) toward 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 Swami-Shreeji Hermitage, LLC, (“Developer”) to provide public sewer service improvements.
The participation agreement provides for Developer to contract and oversee construction of water service improvements according to Metro specifications, that are subject to Metro inspection. Upon completion of the project, Metro will be responsible for continued operation and maintenance.
Developer will install approximately 592 linear feet of 12-inch water main (DIP) and approximately 1,871 linear feet of 15-inch sanitary sewer main (PVC). Approximately 991 linear feet of public sewer main is for the benefit of the general public. The participation agreement states that Metro will pay 50 percent of the project costs, not to exceed $549,842.39 for water service improvements benefiting the Developer’s project. Metro will reimburse Developer for the service improvements the remaining distance to Martin Street up to $450,157.61.