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A resolution requesting that the Division of Purchases, with the assistance of the Department of Planning, issue a solicitation for development of portions of the Nissan Stadium campus.
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WHEREAS, the Sports Authority of the Metropolitan Government of Nashville and Davidson County (the "Authority"), owns certain real property (the “Campus”) on the East Bank, on which is located a multi-purpose outdoor stadium currently known as Nissan Stadium (the “Existing Stadium”), also owned by the Authority and leased to Cumberland Stadium, L.P., an affiliate of the National Football League’s Tennessee Titans (the “Team”) pursuant to that certain stadium lease agreement dated as of May 14, 1996, as amended, between the Authority, as lessor, and the Team, as lessee (the “Existing Lease”); and,
WHEREAS, the Existing Lease prohibits the development of the Campus, in order that the surface parking lots currently located thereon may continue to be utilized for parking for events at the Existing Stadium; and,
WHEREAS, the Team has proposed to construct a new enclosed stadium (the “New Stadium”) on the Campus immediately to the east of the Existing Stadium and release the encumbrances on portions of the Campus; and,
WHEREAS approximately 40 acres (the “Initial Development Area”) of the Campus, depicted on Exhibit 1, is critical to accomplishing coordinated development; and,
WHEREAS, the Metropolitan Government’s goals for use of the Initial Development Area include the provision of infrastructure, diverse and attainable housing, parks and green space, and transportation and mobility facilities, all in coordination with activation of the New Stadium; and,
WHEREAS, development of the Initial Development Area consistent with the Metropolitan Government’s goals can best be accomplished with a private partner with substantial resources and a record of successfully completing comparable projects.
NOW, THEREFORE, BE IT RESOLVED BY THE METROPOLITAN COUNTY COUNCIL OF THE METROPOLITAN GOVERNMENT OF NASHVILLE AND DAVIDSON COUNTY, that:
Section 1. The Division of Purchases, with the assistance of the Department of Planning, is requested to prepare and issue a solicitation seeking a private partner to develop the Initial Development Area. Proposals must address coordination with construction and activation of the New Stadium and the provision of infrastructure, diverse and attainable housing, parks and green space, and transportation and mobility facilities. Proposers must demonstrate financial and management capacity suited to the project and a record of successful completion of comparable projects, including transit-oriented developments in mixed-use urban environments.
Section 2. The Purchasing Agent shall identify the proposal most advantageous to the Metropolitan Government, negotiate a proposed agreement, and submit the agreement to the Metropolitan Council for approval by ordinance.
Section 3. All resolutions in conflict or inconsistent herewith are hereby repealed to the extent of any such conflict or inconsistency.
Section 4. This Resolution shall take effect from its adoption, the welfare of the Metropolitan Government requiring it.
Agenda Analysis
Analysis
This resolution requests that the Division of Purchases, with the assistance of the Department of Planning, issue a solicitation for development of portions of the Nissan Stadium campus. the Sports Authority of the Metropolitan Government of Nashville and Davidson County (“Authority”) owns certain property on the East Bank, located near a multi-purpose outdoor stadium currently known as Nissan Stadium, also owned by the Authority and leased to Cumberland Stadium, L.P., an affiliate of the National Football League’s Tennessee Titans (“Titans”). The existing lease between the Authority and the Titans prohibits the development of the property near the current Nissan Stadium campus.
The Titans have proposed to construct a new enclosed stadium immediately to the east of the existing stadium and release the encumbrances on developing this property. Approximately 40 acres of this area would be developed (“Initial Development Area”) to include infrastructure, diverse and attainable housing, parks and green space, and transportation and mobility facilities, in coordination with the activation of a new stadium. A map of the Initial Development Area is attached as Exhibit 1 to the resolution.
This resolution requests the Division of Purchases, with the assistance of the Department of Planning, to prepare and issue a solicitation seeking a private partner to develop the Initial Development Area. Proposals must address infrastructure, diverse and attainable housing, parks and green space, and transportation and mobility facilities. Proposers must demonstrate financial and management capacity suited to the project and a record successful completion of comparable projects, including transit-oriented developments and mixed-use urban environments.
Once the Purchasing Agent identifies the most advantageous proposal, a proposed agreement should be negotiated and submitted to the Council for approval by ordinance.