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Local residents are set to benefit from a major project in Nashville after an agreement is reached

Nashville, TN – According to the statement, Nashville’s Mayor John Cooper and a local developer have made an agreement to get taxpayers more benefit for their public investment in the riverfront revitalization project. They’ve also reported that this agreement also establishes a River North Business Improvement District in the area of Cowan Court and I-40.

John Cooper, the Mayor of Nashville, said:

“The River North Business Improvement District is a great deal for Nashville’s taxpayers. Property owners in the development will voluntarily increase their property taxes, paying for improvements that will transform the East Bank of Nashville’s riverside. This agreement puts them on the path to paying their own way.”

Metro will fund $13.8 million in public road costs within River North under the agreement, according to the mayor’s office. Monroe Infrastructure, LLC, will contribute more than $7.1 million in public infrastructure costs, 5.5 acres for public roads and four-plus acres for public greenways and green spaces.

The mayor’s office said, additional future revenues from the district would go into Metro’s general operating fund to benefit all Davidson County.