» Subscribe Today!
The Power of Information
Home
The Ledger - EST. 1978 - Nashville Edition
X
Skip Navigation LinksHome > Article
VOL. 48 | NO. 19 | Friday, May 10, 2024

O’Connell proposes $3.27B FY25 budget

Print | Front Page | Email this story

Last week, Nashville Mayor Freddie O’Connell proposed a $3.27 billion budget that intends to build on campaign promises of “Nashville for Nashvillians” as Metro government’s revenues stabilize after four years of pandemic uncertainty.

“As we crafted the budget for the upcoming fiscal year, my team and I did what many Nashvillians do: we sat together at the table, took stock of where we are, worked through the tough decisions, and developed a balanced budget that asks Nashville to live within its means,” O’Connell says. “This budget sets the stage for our future success by prioritizing the essentials that we need to tackle right now.”

Director of Finance Kevin Crumbo projects Nashville’s tax revenue to be largely unchanged from FY24 to FY25. The mayor’s proposed budget attempts to tackle housing affordability, cost of living increases for Metro workers, and increased funding for textbooks for Metro Nashville Public Schools as key components.

The budget ensures a $30 million investment for the Barnes Housing Trust Fund which will support the creation and preservation of affordable rental and homeownership options. This fund will also assist homeowners on lower incomes or fixed incomes in maintaining their homes through rehab programs.

The FY25 budget includes a 3.5% cost of living increase for Metro workers, bringing Metro’s minimum hourly wage up to $20 for general government employees, and funds merit-based pay increases for eligible employees.

The city’s commitment to MNPS remains strong as this budget invests $18 million for new student textbooks and provides MNPS the opportunity to continue successful programs previously paid for with federal Elementary and Secondary School Emergency Relief Funds.

To achieve these goals, Mayor O’Connell has asked departments to collectively achieve a 1.4% savings. “This budget does not accomplish everything we would hope to do in a single year,” O’Connell says, “but it does accomplish the most important goal of any budget: it lives within its means and sets us up for success in future years.”

VUMC leases former Brentwood AT&T Center

Vanderbilt University Medical Center has leased the 43-acre property and building located at 402 Franklin Road in Brentwood formerly occupied by AT&T.

The 347,500-square-foot building is one of Brentwood’s largest. Zoning allows for the property to be used for medical office space. Plans for the building and its adjacent property are under development.

VUMC has in recent years has redeveloped 100 Oaks Shopping Mall into Vanderbilt Health at One Hundred Oaks and a former grocery into into Vanderbilt Health Belle Meade, an outpatient surgery and multispecialty clinic.

VUMC also has multiple expansion projects underway, including a 15-level, 650,000-square-foot tower that will add approximately 180 inpatient beds and 11 additional operating rooms for Vanderbilt University Hospital.

Also underway is a two-floor build out of remaining shell space in Monroe Carell Jr. Children’s Hospital at Vanderbilt that will add pediatric critical care beds.

Plans are underway for additional patient capacity at the One Hundred Oaks campus. These projects are in addition to a new 110,000-square-foot clinical laboratory facility that just opened in Metrocenter.

Healthcare Realty, KKR enter joint venture

Healthcare Realty Trust Incorporated announced it has entered into a strategic joint venture relationship with KKR to jointly own and invest in quality medical outpatient buildings.

Healthcare Realty expects to receive approximately $300 million in proceeds for the contribution of a seed portfolio to the venture and will partner with KKR to explore additional acquisitions, including the potential contribution of more Healthcare Realty properties to the JV.

Under the terms of the agreement, Healthcare Realty will contribute 12 of its existing properties to seed the venture at a value of $382.5 million, representing a cap rate of approximately 6.6%. KKR will make an equity contribution to the JV equal to 80% of the value of the properties.

Healthcare Realty will retain a 20% interest and will manage the JV, as well as continue to oversee day-to-day operations and leasing of the properties. KKR has also committed up to $600 million to the JV to pursue additional acquisitions or contributions of high-quality stabilized assets that are a match for its long-term capital base.

YuJa Panorama to serve TN eCampus content

TN eCampus, a partnership of higher education institutions across Tennessee, has selected the YuJa Panorama Digital Accessibility Platform to streamline accessibility tools and expand the accessibility of course content for online courses offered to students in partner Tennessee Board of Regents institutions across the state.

The program needed a comprehensive digital accessibility solution with user-friendly software that seamlessly integrates into the D2LBrightspace Learning Management System. YuJa Panorama Digital Accessibility Platform automatically generates accessible versions of documents and provides users with customized website accessibility options they can apply to any webpage.

The platform provides an accessibility gauge, highlights accessibility issues, and provides video guidance on how to fix inaccessible content. Advanced analytics help identify gaps in accessibility and can inform decisions throughout an institution’s accessibility journey.

In addition, TN eCampus instructors will benefit from YuJa’s Remediation Engines, which identify, prioritize, and automate the correction of inaccessible content in documents.

Belmont, Evolv partner on Curb Center security

Evolv Technology, a leading security technology company pioneering AI-based screening to create safer experiences, has announced its partnership with Belmont University. The university began using Evolv Express for weapons detection at its Curb Event Center Arena late last year.

Evolv Express uses sensor technology combined with artificial intelligence to differentiate between threats and the kinds of common metal objects people carry. The multipurpose arena, which can accommodate 5,000 seated guests, uses Express systems to screen guests attending basketball and volleyball games, concerts and other activities.

The arena joins a growing list of performing arts, sports and entertainment venues in Music City that use Express to enhance safety and elevate the guest experience.

The Tennessee Titans have used Express for the past three seasons, while Bridgestone Arena became the first professional hockey Evolv partner more than a year ago. Opry Entertainment Group experienced the benefits of Express when the system was deployed at the Grand Ole Opry House.

TDOT ramping up repaving statewide

The Tennessee Department of Transportation (TDOT) is ramping up its pavement repair efforts to address those lingering potholes from January’s record winter storm. The department is investing an additional $15 million in a total of 121 various projects statewide over and above the department’s annual work program.

• Region 1 (Knoxville): 28 projects at $3.3M

• Region 2 (Chattanooga): 43 projects at $2.85M

• Region 3 (Nashville): 33 projects at $4.8M

• Region 4 (Memphis): 17 projects at $4.05M

Warmer temperatures in the spring and early summer months mean asphalt plants are regularly producing the hot mix needed for more permanent repairs. Most of the projects will involve milling which is the removal of the top layer and paving with a layer of fresh asphalt. There are two locations in east Tennessee in which they will be performing concrete rehabilitation of two bridges.

In some cases, motorists should be prepared for short-term traffic delays during these operations. While every effort will be made to perform repairs during off-peak travel times (9 a.m.-3 p.m. local times weekdays), some lane closures may extend into the late afternoon, evening and weekends. TDOT asks drivers to be patient and to watch out for crews on interstates and state highways.

Drivers can report potholes by calling 833-TDOTFIX or by submitting an online maintenance request form

TWRA announces stream grant availability

The Tennessee Wildlife Resources Agency announces the availability of grant dollars to assist cities, schools, community organizations, civic groups, watershed organizations and conservation groups, etc., with stream cleanup projects during the 2024-25 fiscal year.

Five grants, at a maximum of $1,000 each, are available for each of TWRA’s four regional Aquatic Habitat Protection regions (a total of $5,000 per region). The funds will be obligated as grants, so the grantee must have a nonprofit tax number. The application deadline for this program is June 30.

The grant money could be used to buy supplies such as rakes, work gloves and garbage bags. Also, it could be used to pay disposal fees for solid waste and tire removal or to provide promotional items like project advertisement or T-shirts and refreshments for volunteer support.

Contact TWRA’s Jason Miller at (615) 781-6572 or by email with any questions.

TechTies program next to bridge digital divide

A new Metro Nashville initiative, “TechTies: Connected Services for the Community,” will provide technology training, free laptops, apprenticeship and job opportunities, and virtual health monitoring at a single Metro location.

“Our vision with TechTies Nashville is to create a single point of access to digital opportunity,” says Mayor Freddie O’Connell, who has been a vocal champion of Metro’s digital inclusion work. “I’m appreciative of the team’s thoughtfulness in launching this program, including their focus on the location, which is highly accessible to residents through multiple modes of transportation.”

The initiative is designed to accommodate participants who need help with transportation, a known barrier to accessing digital inclusion programs. Metro will aid the process by providing transportation to and from the Metro Action Commission facility at 1281 Murfreesboro Pike.

The $1.9M award is the result of a successful proposal for Connected Community Facilities. This competitive grant program from the Tennessee Department of Economic and Community Development is funded by the Tennessee Emergency Broadband Fund – American Rescue Plan, and is one of the several programs that the state has developed to advance digital opportunity.

Follow us on Facebook, Twitter & RSS:
Sign-Up For Our FREE email edition
Get the news first with our free weekly email
Name
Email
TNLedger.com Knoxville Editon
RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 0 0 0
MORTGAGES 0 0 0
FORECLOSURE NOTICES 0 0 0
BUILDING PERMITS 0 0 0
BANKRUPTCIES 0 0 0
BUSINESS LICENSES 0 0 0
UTILITY CONNECTIONS 0 0 0
MARRIAGE LICENSES 0 0 0