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A resolution accepting an annual donation from the Nashville Convention & Visitors Corp in the amount of $25,000 for up to five years to provide funds for marketing the Nashville Municipal Auditorium.
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WHEREAS, the Nashville Convention & Visitors Corp (“NCVC”) wishes to donate $25,000 annually for up to five years to the Nashville Municipal Auditorium (“Auditorium”) to reimburse funds the Auditorium will pay to Live Nation Worldwide Inc. (“Live Nation”) to promote the Auditorium under the terms of the Preferred Promoter Agreement (“Agreement”), paragraph 2(i); and,
WHEREAS, a copy of the donation documentation is attached hereto and incorporated herein (Exhibit 1); and,
WHEREAS, the Agreement between the Auditorium Commission, on behalf of the Auditorium, and Live Nation has been fully executed by the parties, in accordance with the Commission’s authority under Metro Charter, Part II, Article IV, Section 3 and the Metro Code § 2.116.010 et seq. and is attached here as Exhibit 2; and,
WHEREAS, permitting NCVC to share the costs of promoting the Auditorium will benefit both the Auditorium and the Metropolitan area by helping to attract world-class entertainment to the venue and to downtown Nashville; and,
WHEREAS, pursuant to Metropolitan Code of Laws § 5.04.120(B), the Metropolitan Council can approve such donations by resolution; and,
WHEREAS, it is to the benefit of the citizens of the Metropolitan Government of Nashville and Davidson County that this donation be accepted.
NOW, THEREFORE, BE IT RESOLVED BY THE COUNCIL OF THE METROPOLITAN GOVERNMENT OF NASHVILLE AND DAVIDSON COUNTY:
Section 1. That the Nashville Convention & Visitors Corp’s annual donation of $25,000.00 annually for up to five years to the Nashville Municipal Auditorium, pursuant to the donation letter attached hereto and incorporated herein, is hereby approved.
Section 2. That the annual donation be appropriated to Nashville Municipal Auditorium, which is hereby authorized to accept this donation for its use and benefit.
Section 3. That this Resolution shall take effect immediately upon its adoption, the welfare of The Metropolitan Government of Nashville and Davidson County requiring it.
Agenda Analysis
Analysis
This resolution accepts an annual donation from the Nashville Convention & Visitors Corp (“CVC”) to the Nashville Municipal Auditorium (“Auditorium”) in the amount of $25,000 for up to five years. The donation would be used to reimburse the Auditorium for funds that the Auditorium is required to pay to Live Nation Worldwide Inc. to promote the Auditorium under the terms of its Preferred Promoter Agreement, which has been fully executed by the parties.
The Council is authorized to approve donations by resolution pursuant to Metropolitan Code of Laws Section 5.04.120.B.
Fiscal Note: Metro will receive an annual donation, up to five years, in the amount of $25,000 from the Nashville Convention and Visitors Corp for the Nashville Municipal Auditorium’s Live Nation contract for marketing and promotion.