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An ordinance approving a Lease Agreement by and between the Metropolitan Government of Nashville and Davidson County by and through the Metropolitan Board of Education and the State of Tennessee, on behalf of Nashville State Community College.
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WHEREAS, The Metropolitan Government of Nashville and Davidson County (“Metro”), by and through the Metropolitan Board of Education and the State of Tennessee, on behalf of Nashville State Community College desire to enter into an agreement for the lease of property for the purpose of the “Gear Up” program; and,
WHEREAS, Metro wishes to lease the Premises noted in the lease to Nashville State Community College.
Now, therefore, be it resolved by the Council of The Metropolitan Government of Nashville and Davidson County:
Section 1. The Lease agreement between the Metropolitan Government of Nashville and Davidson County by and through the Metropolitan Board of Education and the State of Tennessee, on behalf of Nashville State Community College, which is attached hereto and incorporated by reference, is hereby approved and the Directors of Schools and the Department of Public Property are authorized to execute the lease on behalf of the Metropolitan Government.
Section 2. Any amendment, change, or extension to the lease shall be approved by resolution of the Metropolitan Council receiving twenty-one affirmative votes.
Section 3. This resolution shall take effect from and after its adoption, the welfare of The Metropolitan Government of Nashville and Davidson County requiring it.
Agenda Analysis
Analysis
This ordinance approves a lease agreement between the Metropolitan Board of Education (“MNPS”) and Nashville State Community College. Pursuant to the terms of the lease, MNPS will lease 400 square feet of furnished office space at 120 White Bridge Pike. This includes the right to use all common areas of the building and use of up to three parking spaces. MNPS will use this leased area exclusively for the Gear Up program. The Gear Up program is a federally funded college access grant program authorized by federal law. The purpose of the Gear Up program is to increase the number of low-income and first-generation students who are prepared to enroll in and succeed in college.
The term of the lease begins on April 30, 2023 and ends December 31, 2026. If the Gear Up program is terminated before the end of the lease term, the lease will automatically expire 90 days after the termination or end of the “Gear Up” program. There is no cost to Metro for the lease of this space. However, the value of the rental has been determined to be $19,445 for the first year and $14,445 for each subsequent year and is considered part of the State of Tennessee’s match under the Gear Up program.