§ 2.178.060. District management corporation powers.

A.

In furtherance of and not in limitation to the general powers conferred upon a CBID by Chapter 84 of Title 7 of the Tennessee Code Annotated and in keeping with the purposes of the SONA CBID set forth herein it is expressly provided that the district management corporation shall have the following powers which shall be exercised at the discretion of the district management corporation acting through its board of directors as follows:

1.

To acquire, construct or maintain parking facilities;

2.

To acquire, construct or maintain public improvements;

3.

To acquire real property or an interest therein in connection with a public improvement;

4.

To provide services for the improvement and operation of the district to supplement those provided by the metropolitan government, as follows:

a.

Promotion and marketing;

b.

Advertising;

c.

Heath and sanitation;

d.

Public safety;

e.

Elimination of problems related to traffic and parking;

f.

Security services;

g.

Recreation;

h.

Cultural enhancements;

i.

Activities in support of business or residential recruitment or retention;

j.

Aesthetic improvements;

k.

Professional management, planning and promotion of the district;

l.

Consulting with respect to planning, management and development activities;

m.

Furnishing of music at any public place;

n.

Design assistance; and

o.

Such other services as authorized by Tenn. Code Ann. § 7-84-520.

5.

To enter into contracts and agreements with other persons or entities;

6.

To hire employees or retain agents, engineers, architects, planners, consultants, attorneys and accountants;

7.

To acquire, construct, install and operate public improvements contemplated by this ordinance and all property rights or interests incidental or appurtenant thereto, and to dispose of all real and personal property and any interest therein including leases and easements in connection therewith;

8.

To manage, control and supervise:

a.

All the business and affairs of the district;

b.

The acquisition, construction and installation and operation of public improvements within the district; and,

c.

The operation of district services therein.

9.

To the extent permitted by law, to borrow money and issue bonds, notes or other obligations for the purpose of paying the costs of public improvements made pursuant to the establishment ordinance, or the refunding or refinancing of any such bonds, notes or other obligations issued pursuant to the authority in Tenn. Code Ann. § 7-84-518.

10.

To construct and install improvements across and along any public street, alley, highway, stream of water or water course in accordance with state and local laws, rules or regulations; and,

11.

To exercise all rights and powers necessary or incidental to or implied from the specific powers granted herein or those granted in Tenn. Code Ann. § 7-84-520.

B.

All services to the district listed above shall be provided by the district management corporation as a service to and in support of the metropolitan government and such services are to be paid for out of the revenues from the special assessment. Revenues from special assessments shall be used to supplement and not to pay for the same level of services provided by the metropolitan government within the district as are provided throughout the general services district. In no event will the level of services provided to the district be decreased as a result of the enhanced level of services.

C.

Initial improvements: The following improvement programs are examples of work authorized to be undertaken within the district during its first year of operation:

1.

Completion of Cane Ridge Parkway and construction of IKEA Parkway and Century Farms Parkway;

2.

Provide complete engineering plans to Metro/TDOT for improvements to Exit 60 of Interstate I-24 and construction of the roadways identified above;

3.

Improvements to Cane Ride Road; and,

4.

Relocating 4 NES circuits.

(Ord. BL2018-1140 § 1, 2018)