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An ordinance establishing a Central East Bank Redevelopment Area and authorizing the recovery of costs incurred in constructing sewer pumping and conveyance facilities necessary to serve the redevelopment area through a sewage infrastructure cost recovery charge applicable to properties within said area.
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WHERAS, pursuant to Title 15 of the Metropolitan Code of Laws, development projects generally must bear the cost of building new or expanded water and sewerage facilities when necessary to provide adequate capacity for those projects; and,
WHEREAS, the Metropolitan Government expects the rapid redevelopment of properties on and near the east bank of the Cumberland River in the area (the "Central East Bank Redevelopment Area" or "CEBRA") depicted on the drawing attached to this ordinance as Exhibit 1; and,
WHEREAS, the existing sanitary sewer system currently serving the CEBRA has adequate capacity for existing needs but not for the substantially increased demand expected with redevelopment; and,
WHEREAS, the Metropolitan Government's investment in a new sewage pumping station (the "CEBRA Pump Station") capable of serving the properties within the CEBRA, and the recovery of such investment over time through proportionate contributions from redeveloping properties seeking additional capacity in the public sewer system, will help minimize public costs and disruption; and,
WHEREAS, the total cost for design and construction of the CEBRA Pump Station and related piping and equipment is estimated to be $32,500,000, approximately $6,500,000 of which Tennessee Stadium, LLC will pay under the terms of a participation agreement approved by the Metropolitan Council pursuant to BL2023-_____, with an estimated balance of $26,000,000 (the final actual amount being the "Net Pump Station Cost") to be paid by the Metropolitan Government; and,
WHEREAS, the CEBRA Pump Station will be designed and constructed with an initial capacity of 10,000,000 gallons per day, of w...
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