§ 2.177.050. District management corporation.

A.

There is hereby authorized a District Management Corporation to be chartered pursuant to the provisions of the Nonprofit Corporation Act of Tennessee for the purpose of administering the special assessment revenues and the activities within and for the Downtown CBID, the making of improvements within and for the Downtown CBID, and the provision of services and projects within and for the Downtown CBID.

B.

The district management corporation shall be governed by a board of directors consisting of at least twelve members. Three members shall be appointed as provided in subsection C below. The Mayor of the Metropolitan Government of Nashville and Davidson County shall appoint a member for a three-year term, after which the board will request that the mayor renew the three-year appointment. The board of directors shall select the remaining eight members to serve staggered, three-year terms, limited to serving two consecutive full terms. These eight members shall be property owners or have offices within the district. At least two of these eight members shall be large property owners (defined as an owner of a major hotel property or commercial office building in the district) and at least two shall be small property owners (defined as an owner of commercial property other than major hotel or office buildings in the district). At least one member shall be a commercial tenant (defined as any lessee of commercial property within the district) and at least one member shall be a residential condominium owner-resident in the district. The seats shall be filled at an annual meeting upon nomination by the outgoing board members and confirmation by a majority of the owners of real property in the district voting in the election. A property owner may vote by proxy vote.

C.

The Speaker of the Senate of the State of Tennessee shall appoint the senator whose senate district includes the majority of the area contained within the Downtown CBID to serve as an ex officio member and the Speaker of the House of Representatives of the State of Tennessee shall appoint the representative whose house district includes the majority of the area contained within the Downtown CBID as an ex officio member. The ex officio members shall serve for the term for which they are elected and shall not be counted in determining the presence of a quorum.

D.

Any member(s) of the Council of the Metropolitan Government of Nashville and Davidson County whose council district(s) includes any of the area contained within the CBID shall serve as an ex officio member.

E.

Vacancies on the board for elected members shall be filled by the remaining board members present and voting to fill the vacancy.

(Ord. BL2017-580 § 1, 2017; Ord. BL2007-1312 § 1, 2007)