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A resolution approving a memorandum of understanding related to the proposed development of a multi-use performance space for the Tennessee Performance Arts Center on East Bank property owned by the Metropolitan Government.
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WHEREAS, The Metropolitan Government of Nashville and Davidson County (the "Metropolitan Government") owns that certain parcel of East Bank property depicted on Exhibit A (the "Project Site"); and
WHEREAS, the Tennessee Performing Arts Center ("TPAC") has proposed (i) the development of a new multi-use performance space (a "Performing Arts Center") on the Project Site, and (ii) the lease of the Project Site by the Metropolitan Government to TPAC, all on the terms set forth in the Memorandum of Understanding attached hereto as Exhibit B (the "Memorandum of Understanding"); and
WHEREAS, the Metropolitan Council wishes to provide its preliminary approval of the development of Performing Arts Center and the lease of the Project Site on the terms and conditions set forth in the Memorandum of Understanding, subject in all respects to final approval of definitive documents by the Metropolitan Council.
NOW, THEREFORE, BE IT RESOLVED BY THE METROPOLITAN COUNCIL OF THE METROPOLITAN GOVERNMENT OF NASHVILLE AND DAVIDSON COUNTY:
Section 1. The proposed terms and conditions of the development, construction and operation of the Performing Arts Center, and the lease of the Project Site, as set forth in the Memorandum of Understanding attached hereto as Exhibit B, are hereby approved by the Metropolitan Council on a preliminary basis and subject in all respects to final approval of the Metropolitan Council, such final approval to be considered upon the presentation to the Metropolitan Council of definitive forms of the development agreement, lease agreement and other agreements described in the Memorandum of Understanding.
Section 2. All acts of the Metropolitan Mayor, the Director of Finance and any other officer of the Metropolitan Government w...
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