RESOLUTION NO. RS2017-536
A resolution authorizing grants not exceeding $8,339,401.00 from the Barnes Fund for Affordable Housing to certain nonprofit organizations selected for the express purpose of constructing affordable or workforce housing.
WHEREAS, Section 7-3-314 of the Tennessee Code Annotated states that metropolitan forms of government may provide financial assistance to a nonprofit organization in accordance with the guidelines of the Metropolitan Government; and,
WHEREAS, Section 5.04.070 of the Metropolitan Code of Laws provides that the Metropolitan Council may by Resolution appropriate funds for the financial aid of nonprofit organizations; and,
WHEREAS, pursuant to the regulations and procedures of the Metropolitan Housing Trust Fund Commission, the Metropolitan Housing Trust Fund Commission has accepted the recommendations of the Barnes Fund Review Committee that the appropriated funds be distributed to the nonprofit organizations: Urban Housing Solutions, Inc., Dismas, Inc., and Woodbine Community Organization; and,
WHEREAS, it is to the benefit of the citizens of The Metropolitan Government of Nashville and Davidson County that this grant contract be approved.
NOW, THEREFORE, BE IT RESOLVED BY THE COUNCIL OF THE METROPOLITAN GOVERNMENT OF NASHVILLE AND DAVIDSON COUNTY:
Section 1. There is hereby appropriated $8,339,401.00 from the Barnes Fund for Affordable Housing to fund grants to three nonprofit organizations as follows:
$4,579,110.00 to Urban Housing Solutions, Inc.;
$260,291.00 to Dismas, Inc.; and
$3,500,000.00 to Woodbine Community Organization.
Section 2. The Metropolitan Housing Trust Fund Commission is hereby authorized to enter into a grant contract with the nonprofit organizations listed in Section 1 above for the grant amounts designated therein, subject to the terms and conditions under which the grant funds are to be spent, attached hereto as Exhibit A through C and incorporated herein. Such grant funds and the conveyance thereof shall also be subject to the terms and conditions of a development agreement, a copy of which is attached hereto as Exhibit D through E and incorporated herein, requiring the property to be used exclusively for construction of affordable and workforce housing for residents of Davidson County as those terms may be defined in Tennessee Code Annotated § 5-9-113.
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: John Cooper, Burkley Allen, Fabian Bedne, Steve Glover, Edward Kindall, Brett Withers
|Referred to:||Ad-Hoc Affordable Housing Committee
Budget & Finance Committee
|Introduced:||February 7, 2017|
|Adopted:||February 7, 2017 - Roll Call Vote|
|Approved:||February 8, 2017|
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