Subject: 20884/Stadium/CHA-PropertyPurchase
Date: Fri, 22 Oct 1993 09:04:00 -0500


                               RESOLUTION NO. 20884
                
                
                 A RESOLUTION TO DECLARE THE PUBLIC PURPOSE OF
                 THE STADIUM PROJECT AND THE NECESSITY TO ACQUIRE
                 PROPERTY NECESSARY THEREFORE, AND TO AUTHORIZE
                 THE CHATTANOOGA HOUSING AUTHORITY (CHA) TO ACT
                 AS AGENT FOR THE ACQUISITION OF SUCH PROPERTY,
                 AND TO AUTHORIZE THE CHA TO TAKE ALL ACTIONS
                 NECESSARY AND REASONABLE, INCLUDING THE EXERCISE
                 OF CONDEMNATION, TO ACQUIRE SAME, AND CONVEY
                 SAME TO HAMILTON COUNTY AND THE CITY OF
                 CHATTANOOGA FOR THE PURPOSE SO DECLARED.
                
                
                                                    
                
                
       	    	 WHEREAS, the governing bodies of Hamilton County (the
       "County") and the City of Chattanooga (the "City") have 
previously
       resolved to construct and provide for the operation of a public
       stadium facility pursuant to the Chattanooga-Hamilton County
       Stadium Funding Agreement (the "Agreement"), incorporated herein
       by reference, provisions of which state:
            	 "That the Project will help to renew and develop
            blighted areas of South Chattanooga, providing increased
            property values and improved economic opportunity.  ....
           
            	 The County and City hereby authorize the CHA, or
            such agent as the CHA may select, to negotiate and
            acquire all Project properties as agent for the County
            and City, and convey same jointly to the County and
            City.  The CHA may exercise the power of condemnation,
            if required."
           
       	    	 WHEREAS, a representative of CHA, in coordination with
       representatives of The Stadium Corporation (TSC), have identified 

       properties deemed necessary and essential for the expeditious
       development of the Stadium project ("the Core Properties"), a
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       description of which is attached and incorporated herein by
       reference as Exhibit "A"; and
       	    	 WHEREAS, the TSC board of directors has recommended that
       the Core Properties be acquired at the earliest possible date and 

       that the CHA be authorized to exercise the powers previously
       bestowed for this purpose;
       	    	 NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF
       THE CITY OF CHATTANOOGA, TENNESSEE, That we do hereby declare the 

       public purpose of Hamilton County and Chattanooga in the
       development of the Stadium project, authorize the CHA to act as
       agent for the County and City, and for the CHA to do all things
       reasonable and necessary to acquire the described properties,
       including the exercise of the power of condemnation; and
       	    	 BE IT FURTHER RESOLVED, that all costs associated
       herewith, including reasonable and necessary fees of the CHA and
       its agents, shall be paid and reimbursed in accordance with the
       Agreement.
      
       ADOPTED:	 February 6, 1996
      
       RLN:cjc
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                                   EXHIBIT A
      
      
       Properties bounded by Main Street, Chestnut Street, 20th Street,
       and Carter Street, identified by the following parcels:
      
            145K-C-7  	   	     	  145K-D-16
            145K-C-8  	   	     	  145K-D-17
            145K-C-9  	   	     	  145K-D-18
            145K-C-10 	   	     	  145K-D-19
            145K-C-11 	   	     	  145K-E-2
            145K-C-12 	   	     	  145K-F-1
            145K-D-7  	   	     	  145K-F-1.1
            145K-D-8  	   	     	  145K-F-2
            145K-D-9  	   	     	  145K-F-3
            145K-D-10 	   	     	  CSX Railroad Right-of-Way
            145K-D-11 	   	     	  Norfolk Southern Railway
            145K-D-12 	   	     	    Right-of-Way
            145K-D-13
            145K-D-14
            145K-D-15
           
           
                             ADDITIONAL PROPERTIES
      
      
       Map  	      	   Parcels
      
       145K, Block E  	   Parcels 1, 3 and 4
       145K, Block B  	   Parcels 6 and 7
       145K, Block E  	   Southern Railway right-of-way, west of
       	    	      	     Carter Street (no parcel number)