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File #: BL2022-1382    Name:
Type: Bill (Ordinance) Status: Passed
File created: 7/26/2022 In control: Metropolitan Council
On agenda: 9/20/2022 Final action: 9/20/2022
Title: An ordinance amending Metropolitan Code Section 5.20.100 regarding the abatement of property taxes for certain improvements or restorations made to historic properties as authorized under the provisions of Tennessee Code Annotated Section 67-5-218.
Sponsors: Jeff Syracuse, Burkley Allen, Tonya Hancock
Attachments: 1. Amendment No. 1 to BL2022-1382
title
An ordinance amending Metropolitan Code Section 5.20.100 regarding the abatement of property taxes for certain improvements or restorations made to historic properties as authorized under the provisions of Tennessee Code Annotated Section 67-5-218.

body
WHEREAS, the Metropolitan Council approved Ordinance No. BL2019-3 on August 3, 2021, amending Metropolitan Code Chapters 5.20 and 17.40 to authorize the Metropolitan Government of Nashville and Davidson County to come under the provisions of Tennessee Code Annotated Section 67-5-218, thereby establishing a Historic Property Review Board empowered to abate property taxes relating to certain improvements or restorations made to historic properties; and

WHEREAS, the Metropolitan Council approved Ordinance No. BL2021-864 on September 21, 2021, amending Metropolitan Code Section 5.20.100 by establishing an annual maximum amount or cap upon the cumulative value of improvements made to, or restorations of, any structure for which historic property tax abatements may apply; and

WHEREAS, multiple property owners have applied for the tax abatement through the historic property review board exceeding the established cap to improve and restore notable historic commercial properties and to restore historic properties damaged in the 2nd Avenue Christmas bombing; and

WHEREAS, extension of the program to historic structures damaged by unanticipated future disasters will help preserve such structures that might otherwise be demolished if restoration is cost prohibitive; and

WHEREAS, the initial success of the program and the number of identified historic properties which can be protected and preserved through the program warrants the extension of the time period for which historic property tax abatements may be applied.

NOW THEREFORE, BE IT ENACTED BY THE COUNCIL OF THE METROPOLITAN GOVERNMENT OF NASHVILLE AND DAVIDSON COUNTY:

Section 1. That subsection 5.20.100 D of the Metropolitan Code is hereby amended by repla...

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