A highly versatile multiple disk chopper neutron time-of-flight spectrometer is being installed at the Cold Neutron Research Facility of the National Institute of Standards and Technology. This new instrument will fill an important gap in the portfolio of neutron inelastic scattering spectrometers in North America. It will be used for a wide variety of experiments such as studies of magnetic and vibrational excitations, tunneling spectroscopy, and quasielastic neutron scattering investigations of local and translational diffusion. The instrument uses disk choppers to monochromate and pulse the incident beam, and the energy changes of scattered neutrons are determined from their times-of-flight to a large array of detectors. The disks and the guide have been designed to make the instrument readily adaptable to the specific performance requirements of experimenters. We present important aspects of the design, as well as estimated values of the flux at the sample and the energy resolution for elastic scattering. The instrument should be operational in 1996.