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A resolution extending the time within which the Tax Incentive and Abatement Study and Formulating Committee shall study and submit its complete report and recommendations.
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WHEREAS, on October 4, 2022, the Metropolitan Council adopted Ordinance No. BL2022-1415, creating a Tax Incentive and Abatement Study and Formulating Committee (the "Committee"); and
WHEREAS, the Committee has been meeting diligently since its members were appointed; and
WHEREAS, BL2022-1415 provides that the Committee should submit a report of its recommendations within six months, unless such time is extended by resolution; and
WHEREAS, RS2023-5 extended the deadline of the committee until January 31, 2024, to complete its work and make its report of recommendations to the Council, and
WHEREAS, the Committee has contacted advisors from the Government Finance Official Association (the "GFOA") for additional guidance on certain procedures and spending limit evaluation; and
WHEREAS, a presentation and proposal from the GFOA will likely require additional meetings to fulfill the requests; and
WHEREAS, the additional information from the GFOA is expected to be relevant to upcoming decisions of the council regarding major projects on the East Bank; and
WHEREAS, the Council has determined that due to the above described circumstances the deadline for the Committee to complete its work and submit it report of recommendations to the Council shall be extended until April 30, 2024.
NOW, THEREFORE, BE IT RESOLVED BY THE COUNCIL OF THE METROPOLITAN GOVERNMENT OF NASHVILLE AND DAVIDSON COUNTY:
Section 1. The Tax Incentive and Abatement Study and Formulating Committee shall continue its work as provided in BL2022-1415 and shall submit to the Metropolitan Council its complete report and recommendations by April 30, 2024, unless such time be extended by resolution of the Council.
Section 2. This resolution shall take effect immediately after its passage, the welfare of The Me...
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