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A resolution requesting that the Division of Purchases, with the assistance of the Department of Planning, issue a solicitation for development of portions of the Nissan Stadium campus.
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WHEREAS, the Sports Authority of the Metropolitan Government of Nashville and Davidson County (the "Authority"), owns certain real property (the "Campus") on the East Bank, on which is located a multi-purpose outdoor stadium currently known as Nissan Stadium (the "Existing Stadium"), also owned by the Authority and leased to Cumberland Stadium, L.P., an affiliate of the National Football League's Tennessee Titans (the "Team") pursuant to that certain stadium lease agreement dated as of May 14, 1996, as amended, between the Authority, as lessor, and the Team, as lessee (the "Existing Lease"); and,
WHEREAS, the Existing Lease prohibits the development of the Campus, in order that the surface parking lots currently located thereon may continue to be utilized for parking for events at the Existing Stadium; and,
WHEREAS, the Team has proposed to construct a new enclosed stadium (the "New Stadium") on the Campus immediately to the east of the Existing Stadium and release the encumbrances on portions of the Campus; and,
WHEREAS approximately 40 acres (the "Initial Development Area") of the Campus, depicted on Exhibit 1, is critical to accomplishing coordinated development; and,
WHEREAS, the Metropolitan Government's goals for use of the Initial Development Area include the provision of infrastructure, diverse and attainable housing, parks and green space, and transportation and mobility facilities, all in coordination with activation of the New Stadium; and,
WHEREAS, development of the Initial Development Area consistent with the Metropolitan Government's goals can best be accomplished with a private partner with substantial resources and a record of successfully completing comparable projects.
NOW, THEREFORE, BE IT RESOLVED BY THE METROPOLITAN COUNTY COUNCIL OF THE METROP...
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