Metropolitan Nashville and Davidson County, TN - File #: RS2023-2201

• File #: RS2023-2201
• Type: Resolution
• Status: Withdrawn
• File created: 5/26/2023
• In control: Planning and Zoning Committee
• On agenda: 7/6/2023
• Final action: 7/6/2023
• Title: A Resolution approving the activities and improvements eligible for tax increment financing in the Metropolitan Development and Housing Agency Redevelopment Districts.
• Sponsors: Bob Mendes, Kevin Rhoten, Brett Withers, Burkley Allen

Date	Action By	Action
7/6/2023	Metropolitan Council	withdrawn
6/6/2023	Metropolitan Council	deferred
6/5/2023	Metropolitan Council	referred
6/5/2023	Metropolitan Council	referred
5/30/2023	Metropolitan Council	filed

title
A Resolution approving the activities and improvements eligible for tax increment financing in the Metropolitan Development and Housing Agency Redevelopment Districts.

body
WHEREAS, the Metropolitan Development and Housing Agency oversee eleven Redevelopment Districts in Nashville; and

WHEREAS, the nine redevelopment plans have remaining bond capacity as follows:

District
Remaining Capacity
Expiration
Arts Center
$8,594,000
2040
Bordeaux
$15,000,000
2045
Cayce Place
$30,000,000
2045
Central State
$7,500,000
2039
East Bank
$17,991,000
2025
Jefferson Street
$14,014,000
2040
Phillips Jackson
$6,819,000
2045
Rutledge Hill
$2,648,000
2040
Skyline
$4,858,000
2037

WHEREAS, Section 5.06.060 directs periodic assessments of the activities and improvements eligible for tax increment financing under each Plan; and

WHEREAS, MDHA held ten meetings and conducted five surveys for each district and a separate survey for the greater community during the first two quarters of 2022 to gather resident and owner input for priorities for uses of tax increment financing in the Redevelopment Districts; and

WHEREAS, the uses identified with MDHA findings are consistent with previous priorities of MDHA as well as those identified by the Planning Department and include affordable housing, historic preservation, grocery in food deserts, infrastructure, transit, open space, and sustainability; and

WHEREAS, the Metropolitan Development and Housing Agency and the Metropolitan Council must agree on the activities and improvements that are eligible for tax increment financing.

NOW, THEREFORE, BE IT RESOLVED BY THE COUNCIL OF THE METROPOLITAN GOVERNMENT OF NASHVILLE AND DAVIDSON COUNTY:

Section 1: MDHA has completed an assessment of the activities and improvements for tax increment financing in accordance with Section 5.06.060 of the Metropolitan Code of Laws.

Section 2: Priorities in all Redevelopment Districts are for affordable housing related infrastructure, transit, gr...