RESOLUTION NO. RS2016-368
A resolution recognizing the expanded duties of the Metropolitan Housing Trust Fund Commission and the roles of the Mayor’s office of economic opportunity and empowerment and the Metro Council in ensuring a comprehensive approach to affordable housing in Nashville and Davidson County.
WHEREAS, the Barnes Fund for Affordable Housing was created in 2013 by the Metropolitan Council and the Office of the Mayor to assist in providing quality affordable housing to residents of Nashville and Davidson County with limited means; and
WHEREAS, the Fund has served as a housing trust fund for Metropolitan Nashville and Davidson County to help address critical housing needs for households earning at or below 80 percent of the area median family income, as determined by the U.S. Department of Housing and Urban Development; and
WHEREAS, the Fund has provided for the creation of more than 100 units of affordable housing in neighborhoods throughout Davidson County through the use of $2,540,000 in awards from the Fund; and
WHEREAS, the Fund is overseen by the Metropolitan Housing Trust Fund Commission, which is made up of citizens appointed by the Mayor and approved by the Council; and
WHEREAS, the breadth and depth of the Commission’s work will increase as it determines how best to allocate more than $10 million in funding in FY17; and
WHEREAS, the pending sale of the Nashville Convention Center will provide an additional $5 million to the Fund; and
WHEREAS, the Metropolitan Council plays a vital role in approving the grants awarded by the Affordable Housing Trust Fund Commission; and
WHEREAS, the Mayor’s Office of Economic Opportunity and Empowerment has worked with the Commission to consider and propose percentages of funding to be allocated to a variety of measures, including but not limited to: affordable housing acquisition, construction and rehabilitation, land acquisition, down payment assistance, community land trusts, nonprofit capacity building, community outreach and increased staffing; and
WHEREAS, the Mayor’s Office of Economic Opportunity and Empowerment, with the support of the Department of Finance and the Department of Law, will provide an annual program progress and performance report to the Commission, the Mayor, and the Metropolitan Council no later than April 1 of each year, the details of which are to be incorporated and approved within the Commission’s Policies and Procedures;
THEREFORE, BE IT RESOLVED that the Metropolitan Council goes on record as encouraging the Metropolitan Housing Trust Fund Commission and the Mayor’s Office of Economic Opportunity and Empowerment to continue to expand and improve affordable housing offerings in Nashville and Davidson County; to seek additional methods and tools within the Commission’s jurisdiction to fund, build, preserve and retain affordable housing; and to work with the Council and the Mayor’s Office to remain accountable and effective in its mission to increase affordable housing in Nashville and Davidson County.
Sponsored by: Colby Sledge, Anthony Davis, Burkley Allen, Scott Davis, Erica Gilmore
|Referred to:||Budget & Finance Committee|
|Introduced:||September 6, 2016|
|Adopted:||September 6, 2016|
|Approved:||September 7, 2016|
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