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A resolution approving an intergovernmental agreement by and between the State of Tennessee, Department of Transportation and The Metropolitan Government of Nashville and Davidson County, for Cleveland Street Extension and Bike/Pedestrian Connectivity from
East Nashville to River North Development, Agreement #210064; PIN 131513.00; Federal Project # Pending; State Project #Pending (Prop. No. 2021M-016AG-001).
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WHEREAS, the Metropolitan Government of Nashville and Davidson County ("Metro") has begun endeavors to redevelop the River North area of the
east bank of the Cumberland River; and
WHEREAS, the Tennessee Department of Transportation desires to create such connectivity by constructing a Cleveland Street extension and Bike/Pedestrian connection: Cleveland Street, from SR-11 (US-41, Dickerson Pike) to Cowan Street under Interstate I-24; and Bike/Pedestrian Connectivity under I-24 from Grace Street to Cowan Street (the "Project"); Agreement #210064; PIN 131513.00; Federal Project # Pending; State Project #Pending (the "Agreement"); and
WHEREAS, upon completion the Project will facilitate public transit, automobile, pedestrian, and bicycle connections between the River North development, including the planned Oracle campus, and other parts of
East Nashville; and
WHEREAS, the Project will create connections between River North and
East Nashville that are vital to the Oracle America, Inc. development that is the subject of RS2021-908 ; and
WHEREAS, in exchange for the construction of the Cleveland Street extension and Bike/Pedestrian connection, Metro will cooperate with TDOT during the Project's planning and construction; and
WHEREAS, if the Project is not approved for federal matching funds, the Metropolitan Government's share of allocated elements of the Project is expected to total approximately $6,572,000 based on current estimates as shown as the Local component on Exhibit A to the Agreement; and
WHEREAS, if the Project is approved for federal...
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