[{"_1":2,"_100":-5,"_101":-5},"loaderData",{"_3":4,"_26":27},"root",{"_5":6,"_17":10,"_18":19,"_20":21,"_22":10,"_23":-5,"_24":-5,"_25":10},"user",{"_7":8,"_9":10,"_11":10,"_12":-5,"_13":-5,"_14":15,"_16":-5},"roles",[],"isAuthenticated",false,"isPremium","planName","subscriptionStatus","featureFlags",{},"insightsBudget","isDevelopmentHost","userPreferences",{},"recaptchaSiteKey","6LcvOJcUAAAAAHsB-gPGfGktcRlKpH7OTIU_dMTD","isImpersonating","impersonation","affiliateStatus","isFreedomPortal","routes/v2/article/layout",{"_28":29,"_30":31},"notFound",true,"relatedArticles",[32,76,88],{"_33":34,"_35":36,"_37":38,"_39":40,"_41":42,"_43":44,"_45":46,"_47":48,"_49":50,"_51":52,"_53":54,"_55":56,"_57":58,"_59":60,"_61":62,"_63":64,"_65":66,"_67":68,"_69":70,"_71":72,"_73":74,"_75":74},"mediaId",6616019,"mediaKeyId","2855716-10bdbd1a2d9cd040eae0c84fa5842d84","parentId",2855716,"title","Fallon master development agreement: 99-year lease, affordability targets and infrastructure responsibilities explained to East Bank board","audioSeconds",896,"startMs",2604000,"endMs",3500000,"viewUrl","/Search/View?dp=1&key=2855716-10bdbd1a2d9cd040eae0c84fa5842d84&start=2604&end=3500","thumbnailUrl","https://assets.pipeline.soar.com/2855716-10bdbd1a2d9cd040eae0c84fa5842d84/thumbnail_2604000.jpg","articleUrl","/articles/6616019/Tennessee/Fallon-master-development-agreement-99-year-lease-affordability-targets-and-infrastructure-responsibilities-explained-to-East-Bank-board","mediaUrl","https://secure.pipeline.soar.com/6616019-05d3e4f25da518d34c2534aed337270d/orig.mp4?Expires=1771149429&Signature=IgWq8WjoJsvRAThke7LLSUJh8ne8I3ioYr11RlAoELopKBrjTNQQjah6AfqcJp5u15s~KgMJ9Oz0EPG1dsp76CmBo2YcR2Uk29NhP~GtqiMZyZtjZx~u1sPTQCqb5rsFpwf87Kv3HpVSfeY1eCzhu0GJTjOC4L4O7QVbezbRnJcdmF6B54TQ516Fv8wMWQx6lE2s5K66N~2bVCUyz1BwcvJxR~Pqd7Exjuq-3deTSUpnzHn7xYePS17PuOgV9q9DiH~ehI4UXRYT0UK8JDTLgEGue5TUpok53nARz98Dyx6wGdaSsDL4ZJn8B4AHOrhu4jy3UmLYQWgzawLt8aDhMQ__&Key-Pair-Id=KUT5TJCACFTXG","author","Metro Nashville Network","date","2025-02-26T00:00:00Z","article","Metro staff provided the East Bank Development Authority an informational briefing on the master development agreement with the Fallon Company for the first 30 acres of Metro-owned land in the East Bank central waterfront.

Staff described the 30-acre area as selected for proximity to the stadium and existing infrastructure availability. The agreement is a 99-year ground lease; Metro retains land ownership and a fair-market rent will be set by appraisal, with an annual increase mechanism until ground is broken and a fixed rent thereafter.

Affordable housing: The development agreement ties residential milestones to affordability commitments. Staff summarized that if Fallon builds the minimum number of housing units in the agreement (1,550 units), 695 units would be affordable under the agreed benchmarks, representing a substantial share of the minimum. Affordability levels were described in terms of area median income (AMI); staff noted AMI is defined by federal rules across a multi-county area and that percentages of AMI translate differently for Nashville residents than for the larger AMI geography. The agreement includes a 99-year affordability term for committed units.

Infrastructure and phasing: Fallon's infrastructure commitments in the exhibit shown to council place primary responsibility for key near-stadium infrastructure with the developer. Parcels C and G, closest to the stadium, are expected to be developed first because infrastructure is available there. Parcels E, E1 and F were described as later in the schedule due to infrastructure needs. Parcel E is identified in the development agreement as the parcel that would be held for TPAC (the performing arts organization) if Metro reaches a separate agreement with TPAC; if TPAC does not reach an agreement, Fallon would develop parcel E under the previously issued RFP. Staff said the agreement contains a contingency path: Metro and Fallon agreed to negotiate subsequent dispositions if the TPAC arrangement falters.

Parking and stadium obligations: Staff said Metro agreed as part of the stadium arrangement to provide 2,000 parking spaces for Titans events indefinitely. In the near term, staff expects to rely on existing surface parking while opportunistically addressing parking as development and sales-tax-capture funds become available. Under the downtown code as applied to this area, parking requirements can be zero; staff said developers commonly include parking based on market demand.

Financial participation and taxes: The lease includes a participation rent provision under which Metro will receive 1% of gross proceeds when a Fallon-developed building changes hands or on cash-out refinancing events; staff said the provision is designed to capture value through future sales or refinancings. Staff also noted the properties will pay full property taxes because Tennessee law subjects long-term private leases of publicly owned land to taxation.

TPAC timeline: The master development agreement and a nonbinding MOU with TPAC set dates for TPAC to demonstrate financing and commitments; staff said TPAC needed to demonstrate financing and commitments by the end of the current year (the transcript places that deadline in 2025) or Metro would proceed under the fallback terms in the development agreement.

Workforce and construction protections: Fallon committed to participate in workforce-development programs, support wage-theft prevention processes and follow construction safety standards; staff said Fallon planned to incorporate on-site reporting mechanisms for subcontractor issues and had indicated Turner Construction would be involved on the stadium and related projects.

Other terms: Staff described a cap on the number of hotels within the first 30 acres to encourage a neighborhood balance rather than a tourism-dominated district. Parcel uses shown in the agreement: Parcel A (future transit hub, affordable housing), Parcel B (near stadium, expected hotel/construction trailers in near term), Parcel C (hotel/residential mix), Parcel D (residential and possibly hotel), Parcel E (reserved for TPAC or Fallon if TPAC does not proceed), Parcel E1 and F (future mixed uses; F likely retail on ground floor with residential above). Some parcels were noted as having significant geotechnical or easement issues that must be cleared before pad-ready conditions are achieved and a two-year clock to break ground begins once Metro provides pad-ready parcels.

Staff said the development agreement was negotiated through a robust RFP and subsequent council review and was intended to deliver a large share of residential units with deeply committed affordability periods while placing near-field infrastructure responsibilities with the developer. Staff emphasized the project will require interagency coordination and substantial engineering work to realize the vision plan.

Board members asked several clarifying questions about specific parcels, parking expectations, the contingency if TPAC does not proceed, and when the affordability clock begins; staff responded with the text in the agreement that starts the affordability timeline when a parcel is pad-ready with utilities and access and noted many implementation details remain in technical work and subsequent coordination with Fallon and contractors.","mediaType","Video","parentTitle","02/26/25 East Bank Development Authority","oneSentenceSummary","Metro staff briefed the East Bank Development Authority on the Fallon master development agreement for 30 acres of Metro-owned land, highlighting a 99-year lease, affordability benchmarks and developer responsibilities for near-term infrastructure.","taxTitle","East Bank Development Authority Meetings, Nashville, Davidson County, Tennessee","taxId",79647,"location","Tennessee","headline","","shortSummary",{"_33":77,"_35":36,"_37":38,"_39":78,"_41":79,"_43":80,"_45":81,"_47":82,"_49":83,"_51":84,"_53":85,"_55":56,"_57":58,"_59":86,"_61":62,"_63":64,"_65":87,"_67":68,"_69":70,"_71":72,"_73":74,"_75":74},6616024,"Metro planning staff outlines Imagine East Bank vision plan and key implementation priorities",257,788000,1045000,"/Search/View?dp=1&key=2855716-10bdbd1a2d9cd040eae0c84fa5842d84&start=788&end=1045","https://assets.pipeline.soar.com/2855716-10bdbd1a2d9cd040eae0c84fa5842d84/thumbnail_788000.jpg","/articles/6616024/Tennessee/Metro-planning-staff-outlines-Imagine-East-Bank-vision-plan-and-key-implementation-priorities","https://secure.pipeline.soar.com/6616024-b93d64b374512db275c5bd35ef1cfe22/orig.mp4?Expires=1771149429&Signature=MAjeV0G8Tiwe-uGX4TgsWLyU3w6bo--YAou9dJy-VcCYyTU~w~JN9EFX3oSh6AYJENDWGhZLffdo9MVSXxO3rW1IOxoDpgyp-e0W8oeDYysLTxYIacOtV7I7gpIaPrM1AkEed1NfXmquMcbJUIlmS1r4RV49LsEbVEp8hxY82XdmL9lPVCck-hVRfuWPHtgSNe0QOzLHUi5wXJkBH6irQe3DwWITlhpRqxPPgGMHQ~a-O5uDOPGZ2BiwXAvHgvA1VZ5xvOXtnJLEQFkxCzkNpbzgoK3G7R9l~9m75fwUA158FUkc1VEM3N3m9FpwAxh1rAbT6YjoV1NrEK9PEiITcA__&Key-Pair-Id=KUT5TJCACFTXG","Anna Grider, a planner with Metro's planning department, presented a high-level overview of the Imagine East Bank vision plan, which the presentation described as a 21-month public-engagement and technical-analysis effort adopted in 2022. Grider said the plan centers on four community-established priorities: equity and affordability, mobility, resiliency and flood management, and building neighborhoods.

Grider told the authority the vision plan provides guidance for design-based, form-oriented zoning and for public- and private-investment decisions; it is not detailed engineering or a financing plan. She said the plan informed an expansion of the downtown code for the first 30 acres of Metro-owned land and will guide future rezoning and infrastructure design.

On mobility, Grider said the plan maps a multimodal network emphasizing pedestrians, transit riders and cyclists and identifies the East Bank Boulevard as the primary north-south street, including dedicated bus rapid transit and protected bike lanes. For resiliency and river access, she described a two-pronged strategy: \"make room for the river\" by softening and laying back river banks and create district-scale stormwater management so multiple parcels can drain to shared, larger public spaces.

Grider identified a series of engineering and program partners already working on implementation: HDR was hired as program manager in 2023; Metro Water and the U.S. Army Corps of Engineers have collaborated on flood modeling; Kimberly Horn provided a utility master plan and 30% design for central waterfront infrastructure; Sherwood Design Engineers worked on flood resiliency and stormwater analysis. She said additional detailed design and right-of-way work will be required to deliver the street network and greenways.

Grider said the plan divides the East Bank into four neighborhoods and identifies priorities for the 130 acres of Metro-owned land, 30 of which were the subject of a separate master development agreement process. She noted the plan sets phase-1 benchmarks for housing affordability on Metro-owned parcels and that negotiated affordability terms could vary in later phases.

Board members asked detailed questions about how recent private development (for example, River North and the Oracle campus) fits the vision, about parking under form-based zoning (Grider said the downtown code currently requires zero parking but commercial and residential projects often include parking based on market demand), and about engineered flood mitigation tied to public space design.

Grider said the vision plan is an implementation-focused guide and that the work will take years and coordination across agencies, engineers and private developers.","Anna Grider of Metro Planning summarized the Imagine East Bank vision plan, highlighting four priorities\u0005equity and affordability, mobility, resiliency, and neighborhoods\u0005and describing 21 months of public engagement, form-based 'design zoning, and implementation work including utility planning and engineering teams.",{"_33":89,"_35":36,"_37":38,"_39":90,"_41":91,"_43":92,"_45":93,"_47":94,"_49":95,"_51":96,"_53":97,"_55":56,"_57":58,"_59":98,"_61":62,"_63":64,"_65":99,"_67":68,"_69":70,"_71":72,"_73":74,"_75":74},6616029,"East Bank Development Authority approves bylaws, names legal counsel and elects vice chair",494,203000,697000,"/Search/View?dp=1&key=2855716-10bdbd1a2d9cd040eae0c84fa5842d84&start=203&end=697","https://assets.pipeline.soar.com/2855716-10bdbd1a2d9cd040eae0c84fa5842d84/thumbnail_203000.jpg","/articles/6616029/Tennessee/East-Bank-Development-Authority-approves-bylaws-names-legal-counsel-and-elects-vice-chair","https://secure.pipeline.soar.com/6616029-91fc1b51076aacc7c6d146d4fdf54d1b/orig.mp4?Expires=1771149429&Signature=ULXgdCplCvMTxDITW8r2wtUaozRQgUNe~gK3GdE8eoO7HdTewgcBj~tRHrgdVP3YFaDF1AnI4rfR4sezEj2C9-dOXTHi9b4Jn0m-4NaMpTGUx1e~Rx1YJcBdvKlO2NW8f0ZO3ngVGMdFnTV7EQVtQtZzwHtrfAYOk9u~T037q8ryYmDACcWVi4INr-7B0f4LD4vadutVcj9xCVIr70Sxmrn8YYGxUdTyWE1eSKbd8qjCv6zAhTFTefxwCbvFJkBhKIv5dsY-a~1bX5WD2~~vacqKz1rI8X2mONv6X~Ph9g4eSyS3bokSVCf8vufW-msrdOdlwHU~LpUVE51fyCMK2Q__&Key-Pair-Id=KUT5TJCACFTXG","The East Bank Development Authority on a unanimous voice vote approved its January 22 meeting minutes, adopted a set of proposed bylaws, authorized engagement of outside counsel to assist with the intergovernmental agreement, approved staff to sign the attorneys' engagement letter, and elected Jimmy Granberry as vice chair.

The actions formalize early organizational steps for the authority, which was holding its meeting under the Tennessee Open Meetings Act. Board members received a draft of bylaws prepared with Metro Legal and were told the bylaws are intentionally general and may be amended later.

The board selected attorneys Saul Solomon and Rita Roberts Turner of the firm Klein Solomon Mills as legal counsel for purposes of the intergovernmental agreement. Board staff said both attorneys have public- and private-sector experience and that the firm agreed not to bill for two attorneys working simultaneously on the same matter. The board clarified the engagement is initially to support work on the intergovernmental agreement; the authority may revisit the scope later.

The body also approved a separate motion authorizing a board officer to sign the engagement letter on the authority's behalf; staff confirmed a copy would be circulated to members. Jimmy Granberry accepted a nomination and was confirmed as vice chair by voice vote.

In a brief CEO update, staff reported the mayor will name the initial chief executive and that an interview process is under way; the authority said it hopes to complete the process by March so the CEO can comment on the intergovernmental agreement before the board's final vote. The board set its next meeting for March 25 at 9 a.m.

No members of the public registered to speak during the public comment period.

Votes at a glance: Approved minutes (motion to approve January 22 minutes); Adopted proposed bylaws (motion to adopt); Selected Klein Solomon Mills (Saul Solomon and Rita Roberts Turner) as counsel for intergovernmental agreement; Authorized staff to sign engagement letter; Elected Jimmy Granberry as vice chair. The transcript records voice votes for these actions but does not include a roll-call tally in the meeting record.

The board also reviewed options for board training; staff advised Metro's routine board-and-commission trainings are optional for the authority because the authority is a separate legal entity.","At a meeting of the East Bank Development Authority, members approved meeting minutes and proposed bylaws, authorized engagement of outside counsel for the intergovernmental agreement, approved signing an engagement letter, and elected Jimmy Granberry as vice chair. Staff reported the CEO search remains ongoing.","actionData","errors"]

Article not found

Fallon master development agreement: 99-year lease, affordability targets and infrastructure responsibilities explained to East Bank board

Metro planning staff outlines Imagine East Bank vision plan and key implementation priorities

East Bank Development Authority approves bylaws, names legal counsel and elects vice chair