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A resolution establishing the Rivergate Infrastructure Development District.
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WHEREAS, Tennessee Code Annotated Sections 7-84-801 et seq. (the “Act”) authorizes The Metropolitan Government of Nashville and Davidson County (the “Metropolitan Government”), by resolution of the Metropolitan Council of the Metropolitan Government (the “Metropolitan Council”), to (i) establish a real estate infrastructure development district and (ii) levy a special assessment on the properties located within a district to provide funding for the costs associated with the funding and financing of the public infrastructure necessary to develop such district; and,
WHEREAS, the Act requires that the establishment of such a district must first be petitioned by the developer of the proposed district and the owners of each of the properties located within the district; and,
WHEREAS, Rivergate MP Holdings LLC, an Ohio limited liability company (the “Developer”), the owner of each parcel of property included within the boundaries of the infrastructure development district described herein (the “District”) has filed the petition attached hereto as Exhibit A (the “Petition”), requesting that the Metropolitan Council approve the establishment of the District and levy special assessments against the properties located therein for the purposes of financing the costs specified therein; and,
WHEREAS, as required by the Act, the Metropolitan Government has duly provided notice of and held a public hearing regarding the establishment of the District, at which all persons whose property may be affected thereby were provided an opportunity to protest against the creation of the District; and,
WHEREAS, the Metropolitan Council has determined that the establishment of the District in the manner described in the Petition is in the best interest of the Metropolitan Government.
NOW, THEREFORE, BE IT RESOLVED BY THE COUNCIL OF THE METROPOLITAN GOVERNMENT OF NASHVILLE AND DAVIDSON COUNTY:
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