RESOLUTION NO. RS2004-476
A Resolution appropriating $50,000 from the General Fund of the General Services District and approving a grant to Citizens for Affordable Housing, Inc., to provide partial funding for its program services.
WHEREAS, Substitute Ordinance No. BL2004-256, the 2004-2005 budget ordinance adopted by the Metropolitan Council, appropriated one hundred thousand dollars ($100,000) as a contribution for Affordable Housing; and
WHEREAS, Citizens for Affordable Housing, Inc., provides services to enable residents of low rent housing to become physically and mentally self-sustaining citizens; and
WHEREAS, T.C.A. § 7-3-314 enables the Metropolitan Government to appropriate funds for the financial aid of a nonprofit organization which is exempt from taxation pursuant to § 501(c)(3) of the Internal Revenue Code of 1954, as amended (sic), provided that such funds appropriated shall be used to promote the general welfare of the residents of Metropolitan Government; and
WHEREAS, Citizens for Affordable Housing, Inc., is a tax exempt organization under the provisions of § 501(c)(3) of the Internal Revenue Code of 1986, as amended; and
WHEREAS, the funds appropriated herein shall be used to promote the general welfare of the residents of Metropolitan Government; and
WHEREAS, Citizens for Affordable Housing, Inc., has filed with the Metropolitan Clerk (1) evidence of its tax exempt status under the Internal Revenue Code of 1986, as amended, (2) a statement of the proposed use of the funds and the program that serves the residents of Metropolitan Government, and (3) in lieu of an annual audited financial statement, a copy of its form 990 tax return for 2003.
NOW, THEREFORE, BE IT RESOLVED BY THE COUNCIL OF THE METROPOLITAN GOVERNMENT OF NASHVILLE AND DAVIDSON COUNTY:
SECTION 1. There is hereby appropriated Fifty Thousand Dollars ($50,000) from account number 01101539 “Contribute Affordable Housing” of the General Fund of the General Services District to fund a grant to Citizens for Affordable Housing, Inc., for the purpose of providing a portion of the funding for its program services.
SECTION 2. The Metropolitan Government is hereby authorized to enter into a grant agreement with Citizens for Affordable Housing, Inc., for the amount provided herein for the purposes stated, and the Metropolitan Mayor is hereby authorized to execute said grant agreement. Such grant agreement shall be in such form as required by the Director of Law and of the Director of Finance and shall specify the terms and conditions under which the grant funds may be expended and shall contain a requirement that the grantee shall file with the Director of Finance and with the Metropolitan Clerk a copy of an annual report of its business affairs and transactions and documents relating to the actual expenditures of the funds provided herein. In no event may any funds of the Metropolitan Government appropriated herein and subject to the grant agreement be used for making of loans to any person, firm, or other entity, the use of such funds being limited to normal operating and management expenses of the program.
SECTION 3. This Resolution shall take effect from and after its adoption, the welfare of The Metropolitan Government of Nashville and Davidson County requiring it.
Sponsored by: Brenda Gilmore
|Referred:||Budget & Finance
Personnel-Public Information-Human Relations-
|Introduced:||September 21, 2004|
|Adopted:||September 21, 2004|
|Approved:||September 22, 2004|