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An ordinance approving and authorizing the execution of the first amendment to the Sublease agreement between OliverMcMillan Spectrum Emery, LLC and the Metropolitan Government of Nashville and Davidson County for the benefit of the National Museum of African American Music.
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WHEREAS, Substitute Ordinance No. BL2019-1605, as amended, (the "Ordinance") approved the Fifth + Broadway Sublease between OliverMcMillan Spectrum Emery, LLC ("Company") and the Metropolitan Government of Nashville and Davidson County (the "Metropolitan Government") to facilitate the operation of the National Museum of African American Music (the "Museum"); and,
WHEREAS, Company and the Metropolitan Government entered into that certain "Sublease" dated August 30, 2019 (the "Sublease") for leasing of certain real estate located within the Fifth + Broadway development in Nashville, Tennessee as authorized by the Ordinance; and,
WHEREAS, the Company and the Metropolitan Government desire to amend the Sublease to abate a portion of the common area operating costs and chilled water costs, and to require the Museum to provide the Company with a strategic marketing plan for the Museum; and,
WHEREAS, the Metropolitan Government, the Industrial Development Board of the Metropolitan Government of Nashville and Davidson County, and the African American History Foundation of Nashville, Inc. entered into an agreement with respect to the development and operation of the Museum on December 1, 2008, and as amended in 2017 and 2019, (the "Operating Agreement") whereby the Museum is responsible for all operating costs of the Museum; and,
WHEREAS, the Metropolitan Government is approving the amendment to the Sublease solely for the benefit of the Museum; and,
WHEREAS, it is in the best interest of the Metropolitan Government that the amendment to the Sublease be approved.
NOW, THEREFORE, BE IT ENACTED BY THE COUNCIL OF THE METROPOLITAN GOVERNMENT OF NASHVILLE AND DAVIDSON COUNTY:
Section 1. The ...
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