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A resolution approving an option agreement between the Metropolitan Government of Nashville and Davidson County and Constance E. Finney, et al., authorizing the purchase of certain property located at 1725 17th Avenue North (Parcel No. 08111016100); (Proposal No. 2025M-008-PR-001).
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WHEREAS, the Metropolitan Government of Nashville and Davidson County and Constance E. Finney, et al. desire to enter into an Option Agreement, attached hereto and incorporated herein as Exhibit 1, pertaining to certain property (“Property”) owned by Constance E. Finney, et al., located at 1725 17th Avenue North (Parcel No. 08111016100); 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; 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 Property 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 Constance E. Finney, et al., granting the Metropolitan Government an option to purchase the Property located at 1725 17th Avenue North (Parcel No. 08111016100), 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 approves an option agreement for the purchase of a .11-acre parcel of property located at 1725 17th Avenue North for the Department of Water and Sewerage Services.
The option agreement would permit the Metropolitan Government to purchase the property from Constance E. Finney, and others. If the option is exercised, the Metropolitan Government would pay $160,000 for this property, which consists of approximately .11 acres of property.
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.
This proposal has been approved by the Planning Commission.
Fiscal Note: According to the Assessor of Property’s website, the appraised value of 1725 17th Avenue North, a 0.11-acre parcel, is $171,000.