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Town Council Agenda Meeting

Public Hearing

NOTICE OF PUBLIC HEARING BEFORE THE TOWN OF NASHVILLE TOWN COUNCIL

The public will take notice that the Town Council of the Town of Nashville will hold a public hearing at 7:00 PM on January 29, 2020 in the Town Council Chambers, 114 W. Church Street, Nashville, NC, concerning an amendment to an Inducement Agreement dated June 15, 2015, which proposes the appropriation and expenditure of town funds to aid and encourage the location of light industries and service businesses in the light industry and commerce park known as West Nashville Commerce Park, all as authorized by NCGS §158-71.
Notice is further given that it is the Town Council’s intention to approve the following specific appropriations and expenditures:
To exchange a 2.38 acre portion of the Prime Property located on the south side of Commerce Street along Cooke Road (the “New Town Lot”) for a 2.38 acre parcel of the Town’s property in the West Nashville Commerce Park on the north side of Commerce Street bounded by Commerce Street and Cooke Road (the “New Prime Lot”), said real property being a portion of Lot 2 as shown on plat entitled “Minor Subdivision Plat – Property of Prime 1 Builders, LLC, Nashville” dated October 26, 2015, by James G. Strickland Land Surveying, P.A.,  and recorded in the Nash County Registry, Book 39, Page 310.
The fair market value of the New Town Lot and the New Prime Lot are of equal fair market value and the consideration to be received by the town is the construction of three shell buildings, with minimum square footage of 5,000 feet per building.
The public benefit to be derived from the proposed appropriation and expenditures, described herein, is to increase the property tax and sales tax revenues in the Town of Nashville, to create a substantial number of jobs for the citizens of the Town of Nashville and to generally stimulate the local economy and promote business prospects in the Town of Nashville.

Town of Nashville Town Council
By:  Lou C. Bunch, Town Clerk

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