(a) Prior to or in connection with the negotiation of the comprehensive agreement, the responsible public entity may enter into an interim agreement with the private entity proposing the development, redevelopment, or operation of the qualified transportation facility or facilities. The interim agreement may:

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Terms Used In Tennessee Code 54-6-109

  • Comprehensive agreement: means the comprehensive agreement between the eligible private entity and the responsible public entity required by §. See Tennessee Code 54-6-102
  • Interim agreement: means an agreement, including a memorandum of understanding or binding preliminary agreement, between the private entity and the responsible public entity that provides for completion of studies and any other activities to advance the development, redevelopment, or operation, or any combination of these activities, of a qualifying transportation facility. See Tennessee Code 54-6-102
  • Private entity: means any natural person, corporation, limited liability company, partnership, joint venture, or other private business entity. See Tennessee Code 54-6-102
  • Qualifying transportation facility: means one (1) or more transportation facilities developed, redeveloped, or operated by a private entity pursuant to this chapter. See Tennessee Code 54-6-102
  • redevelopment: means the process of replanning, reconstructing, or redesigning a transportation facility, including acquisition, clearance, development, or disposal, or any combination of these activities, of a transportation facility. See Tennessee Code 54-6-102
  • Responsible public entity: means a public entity that has the power to develop, redevelop, or operate the applicable transportation facility. See Tennessee Code 54-6-102
  • Transportation facility: means any mass transit system intended for shared passenger transport services to the general public, together with any building, structure, appurtenance, utility, transport support facility, transport vehicles, service vehicles, parking facility, or any other facility, structure, vehicle or property needed to operate the transportation facility or provide connectivity for the transportation facility to any other non-mass transit system transportation infrastructure including, but not limited to, interstates, highways, roads, streets, alleys, and sidewalks. See Tennessee Code 54-6-102
(1) Permit the private entity to commence activities for which it may be compensated relating to the proposed qualifying transportation facility, including project planning and development, advance right-of-way acquisition, design and engineering, environmental analysis and mitigation, survey, conducting transportation and revenue studies, and ascertaining the availability of financing for the proposed facility or facilities;
(2) Establish the process and timing of the negotiation of the comprehensive agreement; and
(3) Contain any other provisions related to any aspect of the development, redevelopment, or operation of a qualifying transportation facility that the parties may deem appropriate.
(b) Notwithstanding anything to the contrary in this chapter, a responsible public entity may enter into an interim agreement with multiple private entities if the responsible public entity determines in writing that it serves the public purpose of this chapter to do so.
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