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A resolution approving Amendment 1 to the participation agreement between The Metropolitan Government of Nashville and Davidson County, acting by and through the Metropolitan Department of Water and Sewerage Services, and Nolensville Owner, LLC, a subsidiary of Southern Land Company, to clarify terms of participation and extend the term of the agreement for a period of six months.
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WHEREAS, RS2024-431 approved a participation agreement on May 13, 2024, between The Metropolitan Government of Nashville and Davidson County (“Metro”) and Nolensville Owner, LLC, a subsidiary of Southern Land Company (“Developer”) for Metro to participate with Developer on Storyvale, known as Project No. 23SL0178; and,
WHEREAS, Metro and Developer now wish to amend the agreement by extending the date which Developer has to complete and make operational the improvements, as set forth in Section II, Part D of the agreement, due to unforeseen scheduling conflicts, and to clarify Metro’s participation is contingent on Developer’s submittal of and compliance with, final as-builts as set forth in Section II, Part C of the agreement, as further described in Amendment 1, attached hereto; and,
WHEREAS, it is the best interest of the citizens of the Metropolitan Government of Nashville and Davidson County that Amendment 1 be approved.
NOW THEREFORE, BE IT RESOLVED BY THE COUNCIL OF THE METROPOLITAN GOVERNMENT OF NASHVILLE AND DAVIDSON COUNTY:
Section 1. That Amendment 1 to the participation agreement between The Metropolitan Government of Nashville and Davidson County, acting by and through the Metropolitan Department of Water and Sewerage Services, and Nolensville Owner, LLC, a subsidiary of Southern Land Company, to extend the term of the agreement for a period of six months and to clarify Metro Water Services’ obligation to participate, attached hereto and incorporated herein, is hereby approved, and the Metropolitan Mayor is authorized to execute the same.
Section 2. That 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 the first amendment to a participation agreement between the Department of Water and Sewerage Services (“Metro Water”) and Nolensville Owner, LLC, a subsidiary of Southern Land Company (“Developer”).
The participation agreement, first approved in Resolution No. RS2024-431, allowed Developer to contract and oversee the design and installation of various sanitary sewer mains and sanitary sewer manholes for the proposed Storyvale development. Metro Water agreed to pay the lesser of 50 percent of the actual project costs not to exceed $5,000,000 as a contribution to these improvements.
The proposed amendment extends the participation agreement term to January 1, 2026. The amendment would be null and void if the improvements are not operational by that date. The proposed amendment would also make Metro Water’s participation contingent upon Developer’s submission of final as-builts performed and stamped by a licensed surveyor of a third party and the slopes of individual pipes as defined from manhole to manhole meeting or exceeding the slopes of design plans.
Ordinance No. BL2022-1214 allows Metro to enter into participation agreements to fund infrastructure with developers by resolution of the Metropolitan Council. The Metropolitan Planning Commission has recommended approval of the agreement.
Fiscal Note: Metropolitan Department of Water and Sewerage Services would pay the lesser of 50% of the actual project costs not to exceed $5,000,000 towards public sanitary sewer service improvements for Nolensville Owner LLC’s proposed development Storyvale. Metro would be responsible for the ongoing operation and maintenance.