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A resolution approving amendment one to the Economic Impact Plan for the Rivergate Mall Economic Development Project.
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WHEREAS, on May 14, 2025, The Industrial Development Board of the Metropolitan Government of Nashville and Davidson County (the "Industrial Development Board") adopted an Economic Impact Plan regarding the development of the Rivergate area (the "Plan"); and
WHEREAS, on May 20, 2025, the Metropolitan Council approved the Plan pursuant to Resolution No. RS2025-1223; and,
WHEREAS, Tenn. Code. Ann. ? 7-53-314 permits the Plan to be amended by resolution of both the Industrial Development Board and the Metropolitan Council; and
WHEREAS, the Metropolitan Government has determined that the First Amendment to Economic Impact Plan for Rivergate Mall Economic Development Project ("amendment one") will promote economic growth and stability within the community.
NOW, THEREFORE, BE IT RESOLVED BY THE COUNCIL OF THE METROPOLITAN GOVERNMENT OF NASHVILLE AND DAVIDSON COUNTY:
Section 1. That the Metropolitan Council hereby approves amendment one to the Plan in the form attached hereto as Exhibit A and incorporated herein by reference, it being in the interest of the residents of the Metropolitan Government of Nashville and Davidson County so to do, and the Industrial Development Board is authorized to take such other action as may be necessary, appropriate, or required to implement the Plan, as amended.
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 the Economic Impact Plan for the Rivergate Mall Economic Development Plan (the "Plan"). The Metropolitan Council previously approved the Plan through Resolution No. RS2025-1223.
The purpose of an economic impact plan is primarily to provide tax increment financing for a designated project to cover costs relat...
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