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A resolution approving an agreement for the purchase of a half-acre parcel of property located at 1045 28th Avenue North for use in connection with construction of a new public library. (Proposal No. 2025M-011AG-001).
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WHEREAS, the Sunset Real Property 1, LLC ("SRP") owns a parcel of property (the "Property;" Parcel ID Number 09202002500); and,
WHEREAS, the Property is well suited and located for use in connection with construction of a new public library; and,
WHEREAS, pursuant to the terms of the option agreement (the "Agreement") attached as Exhibit 1 to this resolution, SRP proposes to sell the Property to the Metropolitan Government; and,
WHEREAS, pursuant to Metropolitan Code of Law ? 2.24.250(F), option agreements for the purchase of real property intended for uses other than vehicular rights of way may be approved by resolution.
NOW, THEREFORE, BE IT RESOLVED BY THE COUNCIL OF THE METROPOLITAN GOVERNMENT OF NASHVILLE AND DAVIDSON COUNTY:
Section 1. The Agreement (Exhibit 1) is hereby approved, and the Director of Public Property or his designee is authorized to execute it and such other documents as may be customary and necessary to carry out the transaction contemplated therein.
Section 2. Amendments to the Agreement may be authorized by resolution of the Metropolitan Council.
Section 3. This resolution shall take effect from and after its adoption, the welfare of the Metropolitan Government of Nashville and Davidson County requiring it.
Agenda Analysis
Analysis
This resolution approves an option agreement for the purchase of a half-acre parcel of property located at 1045 28th Avenue North for use in connection with the construction of a new public library.
The option agreement would permit the Metropolitan Government to purchase the property from Sunset Real Property I, LLC If the option is exercised, the Metropolitan Government would pay $2,100,000 for this property, which consists of approximately one-half acre of property.
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