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A resolution approving a participation agreement between the Metropolitan Government of Nashville and Davidson County, acting by and through the Metropolitan Department of Water and Sewerage Services, and 600 Southgate Properties LLC, to provide public water service improvements for 600 Southgate Properties' proposed development, as well as other existing properties in the area (MWS Project No. 23-WL-0046 and Proposal No. 2025M-064AG-001).
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WHEREAS, pursuant to the terms of the participation agreement, attached hereto as Exhibit 1, 600 Southgate Properties, LLC ("DEVELOPER") in compliance with all Metropolitan Government of Nashville and Davidson County ("METRO") requirements and specifications, will contract and oversee the construction of approximately 363 linear feet of eight-inch water main (DIP) on Southgate Avenue, to serve the residents on Southgate Avenue, as shown in Exhibit 2 hereto attached, Project No. 23-WL-0046; and,
WHEREAS, METRO will inspect the construction and upon acceptance, will be responsible for ongoing operation and maintenance; and,
WHEREAS, METRO agrees to pay the lesser of fifty percent (50%) of the actual project costs that benefit both parties, not to exceed Fifty-Five Thousand Two Hundred Forty-Four Dollars and Fifty-One Cents ($55,244.51); and,
WHEREAS, as part of this project DEVELOPER further agrees to improve the public water main the remaining distance to Martin Street to the benefit of the general community and the public water system without benefit to DEVELOPER and be reimbursed by METRO not to exceed One Hundred Sixty-Three Thousand Thirty-Five Dollars and Twenty-Seven Cents ($163,035.27); and,
WHEREAS, BL2022-1214 authorizes the Metropolitan Department of Water and Sewerage Services to enter into participation agreements funding infrastructure with developers by resolution of the Metropolitan Council; and,
WHEREAS, the Project is deemed to benefit both parties and the general community.
NOW, THEREFORE, BE IT RE...
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