File #: 18-1056    Version: 1 Name:
Type: Contract/Agreement Status: Passed
File created: 10/10/2018 In control: Work Session
On agenda: 10/23/2018 Final action: 10/23/2018
Title: *Consideration of COF Contract No. 2018-0211, Assignment and Assumption of Cool Springs Conference Center with Chartwell Hospitality. (10/23/18 WS)
Sponsors: Eric Stuckey, Shauna Billingsley, Kristine Brock
Attachments: 1. 18-1056 COF 2018-0211_Chartwell Hospitatlity LLC_1_with Exhibits A and B.Law Approved.pdf, 2. Intention to Sell Cool Springs Marriott_CH Realty_October 3 2018

 

DATE:                                                               October 10, 2018

 

TO:                                          Board of Mayor and Aldermen

 

FROM:                                          Eric Stuckey, City Administrator

                                          Shauna Billingsley, City Attorney

                                          Kristine Tallent, Assistant City Administrator/CFO

                                          

                     

SUBJECT:                                          

title

*Consideration of COF Contract No. 2018-0211, Assignment and Assumption of Cool Springs Conference Center with Chartwell Hospitality. (10/23/18 WS)   

body

 

Purpose

The purpose of this memorandum is to provide information to the Franklin Board of Mayor and Aldermen (BOMA) concerning the approval of an assignment of the operation of the Cool Springs Conference Center to Chartwell Hospitality. 

 

Background

The City of Franklin and Williamson County are joint owners of the Cool Springs Conference Center.  Through an agreement dated October 15, 1997, the owner of the adjoining Cool Springs Marriott Hotel is also operator of the Conference Center.  CH Realty has indicated by letter dated October 3, 2018, of their intention to sell the hotel to Chartwell Hospitality.  This agreement assigns the operation of the Conference Center to the new owner of the hotel

 

Financial Impact

There is no adverse financial impact to the City resulting from assignment of the Operating Agreement to the new owner of the Cool Springs Marriott Hotel.

 

Recommendation

rec

Staff recommends approval.