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A resolution authorizing the Metropolitan Department of Water and Sewerage Services to transfer control of two parcels of property to the Metropolitan Government.
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WHEREAS, The Division of Affordable Housing continuously seeks properties to provide housing options to Davidson County residents; and
WHEREAS, the Metropolitan Department of Water and Sewerage Services (“Department”) has determined that two parcels of property located at 0 Hagan Street and 136 Jacksonian Drive (Metro Parcel ID #s 105060256 and 074080243; the “Properties”) are no longer needed in connection with operation of the Metropolitan Government’s water or sewerage systems; and
WHEREAS, the Properties may be suitable for use in providing affordable housing in Nashville; and
WHEREAS, appraisals for the properties are attached hereto as Exhibit A; and
WHEREAS, Tennessee Code Annotated 7-34-115(a)(9) provides that revenues derived from public works may be paid to the municipality if the municipality so requests in lieu of ad valorem tax on the property of the public works within the corporate limits of the municipality, not to exceed the amount of taxes payable on privately owned property of a similar nature; and
WHEREAS, transfer of control of the Properties to the Metropolitan Government as an in-kind payment in lieu of ad valorem taxes is in the best interest of the Metropolitan Government.
NOW, THEREFORE, BE IT RESOLVED BY THE COUNCIL OF THE METROPOLITAN GOVERNMENT OF NASHVILLE AND DAVIDSON COUNTY:
Section 1. That the Department of Water and Sewerage Services shall transfer control of the Properties to the Metropolitan Government for the purposes of use by the Affordable Housing Division of Planning.
Section 2. That the Director of Finance is authorized to accept the transfer of properties.
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 authorizes the transfer of control of two parcels of property from the Metropolitan Department of Water and Sewerage Services to the Metropolitan Government for use by the Affordable Housing Division of the Planning Department.
The properties at 0 Hagan Street and 136 Jacksonian Drive are no longer needed in the operation of the Metropolitan Government’s water or sewerage systems and may have value as land for affordable housing. Appraisals on both properties indicate they are suitable for residential use.
Tennessee Code Annotated section 7-34-115(a)(9) provides that revenues derived from public works may be paid to the municipality if the municipality so requests in lieu of ad valorem tax on the property of the public works within the municipality’s corporate limits. Transfer of control of the properties to the Metropolitan Government would serve as an in-kind payment in lieu of ad valorum taxes.
Fiscal Note: According to the appraisal report, the appraised value of the 0.30-acre vacant land site at 0 Hagan Street is $1,050,000 and the appraised value of the 2.79-acre vacant land site at 136 Jacksonian Drive is $770,000 as of October 23, 2023.