The board that will oversee Nashville’s East Bank has officially been created. Nashville’s Metro Council voted to approve the East Bank Development Authority on Tuesday.
It’s a long time coming — the authority first required approval in the statehouse, where sponsors navigated major delays and amendments from Republicans that would have overhauled the board. Ultimately, the bill achieved bipartisan support as one of the final measures considered by the House last session.
The move adds yet another authority to Nashville’s numerous boards — like the Airport Authority, Hospital Authority, and Convention Center Authority, to name a few — that help manage the city’s major, high-budget projects.
Chief Development Officer Bob Mendes, who is leading the charge on the East Bank project for the mayor’s office, said that allowing these authorities to manage some of the city’s largest assets is crucial for government efficiency.
“By carving out the assets, we let the core Metro government focus on running the core Metro government,” Mendes told the Metro Council’s Budget and Finance committee. “It allows for professional, specialized management that doesn’t distract departments from running the city.”
The East Bank redevelopment is no different than the multi-million-dollar operations that other authorities oversee. Infrastructure costs for the East Bank are estimated at $147 million, with the project playing out over many years.
Perkins Eastman Map of the East Bank development’s boundaries.
Still, establishing the body wasn’t easy. It first required approval from the legislature, where there was dispute over whether the authority would have eminent domain powers — it does not — and who would sit on it.
After some back and forth of city versus state representation (this bill was introduced merely a year after the legislature sought to overhaul Nashville’s Airport and Sports Authorities with more state-appointed members), the legislature decided that seven members will be appointed by Nashville and two by the state. Of the city’s appointees, five will be selected by the mayor and two by the Metro Council.
And because the authority was created by private act it would require agreement from both the state and the city before any amendments (like those that the legislature sought for the Airport and Sports authorities) were approved.
There are still more decisions to make. This legislation only created the Authority — as of right now, it has no assets or power. Seat appointments are expected this fall, and, early next year, the council and authority members will determine what kind of power the board can have.
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