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An ordinance approving a participation agreement between the Metropolitan Government of Nashville and Davidson County, acting by and through the Housing Division of the Metropolitan Planning Department, and Nashville Leased Housing Associates III, Limited Partnership, to provide enhanced pedestrian signaling for Nashville Leased Housing Associates III's proposed development, as well as other existing properties in the area (Proposal No. 2025M-034AG-001).
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WHEREAS, the Metro Housing Division established the Connecting Housing to Infrastructure Program ("CHIP"), funded through the Capital Spending Plan ("CSP") to support enhanced infrastructure improvements related to the development of income-restricted affordable housing; and,
WHEREAS, Nashville Leased Housing Associates III, LP ("Developer") meets the criteria to receive CHIP funding; and,
WHEREAS, the Nashville Department of Transportation and Multimodal Infrastructure ("NDOT") will inspect the construction and upon acceptance, will be responsible for ongoing operation and maintenance; and,
WHEREAS, pursuant to the terms of the participation agreement, attached hereto as Exhibit 1, Developer, in compliance with all Metropolitan Government of Nashville and Davidson County ("Metro") requirements and specifications, will contract and oversee the construction of pedestrian signaling and crossing at the Intersection of Whites Creek Pike and Dickerson Pike, to serve its development at 900 Dickerson Pike; and,
WHEREAS, Metro agrees to pay no more than $763,334.00 as a contribution toward the improvements; and
WHEREAS, The Developer must provide documentation of expenses for Metro's approval; and,
WHEREAS it is to the benefit of the citizens of The Metropolitan Government of Nashville and Davidson County that this ordinance be approved.
NOW, THEREFORE, BE IT ENACTED BY THE COUNCIL OF THE METROPOLITAN GOVERNMENT OF NASHVILLE AND DAVIDSON COUNTY:
Section 1. The participation agreement (Exhibit 1) between the ...
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