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A resolution approving an intergovernmental agreement between the Metropolitan Government of Nashville and Davidson County and the East Bank Development Authority (Proposal No. 2025M-012AG-001).
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WHEREAS, pursuant to BL2024-428, the Metropolitan Council adopted and ratified Chapter 68 of the Private Acts of 2024, establishing the East Bank Develoopment Authority and providing for its duties and powers; and,
WHEREAS, BL2024-428 contemplated that the East Bank Development Authority would administer multiple agreements relating to the development of portions of the existing Nissan Stadium Campus, oversee the design and construction of vital public infrastructure throughout the East Bank, and coordinate public and private projects so as to ensure the East Bank's development is consistent with the community's vision for it; and,
WHEREAS, pursuant to the terms of the agreement (the "Intergovernmental Agreement") attached to this Resolution as Exhibit 1, the East Bank Development Authority proposes to undertake the duties and responsibilities contemplated in BL2024-428; and,
WHEREAS, consistent with BL2024-428, the Intergovernmental Agreement provides for the conveyance by the Metropolitan Government to the East Bank Development Authority of approximately 30 acres (the "Initial Development Area") of real property comprising part of the Nissan Stadium Campus; the assignment of various contracts relating to the development of the Initial Development Area, and the operation of the broader Nissan Stadium campus; the assignment of multiple contracts for engineering work relating to the planning and design of infrastructure throughout the East Bank; and the transfer of funding for the East Bank Development Authority's use in performing the obligations created by those contracts; and,
WHEREAS, approval of the Intergovernmental Agreement would benefit the citizens of Nashville and Davidson County.
NOW, THEREFORE BE IT RESOLVED BY THE COUNCIL OF THE METROPOLITAN GO...
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