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A resolution approving Amendment 1 to the participation agreement between The Metropolitan Government of Nashville and Davidson County, acting by and through the Metropolitan Department of Water and Sewerage Services, and Nolensville Owner, LLC, a subsidiary of Southern Land Company, to clarify terms of participation and extend the term of the agreement for a period of six months.
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WHEREAS, RS2024-431 approved a participation agreement on May 13, 2024, between The Metropolitan Government of Nashville and Davidson County ("Metro") and Nolensville Owner, LLC, a subsidiary of Southern Land Company ("Developer") for Metro to participate with Developer on Storyvale, known as Project No. 23SL0178; and,
WHEREAS, Metro and Developer now wish to amend the agreement by extending the date which Developer has to complete and make operational the improvements, as set forth in Section II, Part D of the agreement, due to unforeseen scheduling conflicts, and to clarify Metro's participation is contingent on Developer's submittal of and compliance with, final as-builts as set forth in Section II, Part C of the agreement, as further described in Amendment 1, attached hereto; and,
WHEREAS, it is the best interest of the citizens of the Metropolitan Government of Nashville and Davidson County that Amendment 1 be approved.
NOW THEREFORE, BE IT RESOLVED BY THE COUNCIL OF THE METROPOLITAN GOVERNMENT OF NASHVILLE AND DAVIDSON COUNTY:
Section 1. That Amendment 1 to the participation agreement between The Metropolitan Government of Nashville and Davidson County, acting by and through the Metropolitan Department of Water and Sewerage Services, and Nolensville Owner, LLC, a subsidiary of Southern Land Company, to extend the term of the agreement for a period of six months and to clarify Metro Water Services' obligation to participate, attached hereto and incorporated herein, is hereby approved, and the Metropolitan Mayor is authorized to execute the same.
Section 2. That this res...
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