title
A resolution approving the Third Amendment to a grant contract for constructing affordable housing approved by RS2022-1857 between the Metropolitan Government of Nashville and Davidson County, acting by and through the Metropolitan Housing Trust Fund Commission, and Be a Helping Hand Foundation.
body
WHEREAS, The Metropolitan Government of Nashville and Davidson County (“Metro”), acting by and through the Metropolitan Housing Trust Fund Commission, previously entered into a grant contract with Be a Helping Hand Foundation for the express purpose of constructing affordable housing approved by RS2022-1857; and,
WHEREAS, Metro, acting by and through the Metropolitan Housing Trust Fund Commission, and Be a Helping Hand Foundation executed a First Amendment to said grant contract on November 7, 2024, to extend the term of the grant contract, which amendment was approved by RS2024-818 and,
WHEREAS, Metro, acting by and through the Metropolitan Housing Trust Fund Commission, and Be a Helping Hand Foundation executed a Second Amendment to said grant contract on October 21, 2025, to extend the term of the grant contract, which amendment was approved by RS2025-1565; and,
WHEREAS, the parties wish to amend this grant contract by revising the draw schedule; and,
WHEREAS, it is to the benefit of the citizens of The Metropolitan Government of Nashville and Davidson County that the amendment to the grant contract be approved.
NOW, THEREFORE BE IT RESOLVED BY THE COUNCIL OF THE METROPOLITAN GOVERNMENT OF NASHVILLE AND DAVIDSON COUNTY:
Section 1. That this Third Amendment to the grant contract for constructing affordable housing between The Metropolitan Government of Nashville and Davidson County, acting by and through the Metropolitan Housing Trust Fund Commission, and Be a Helping Hand Foundation a copy of which is attached hereto and incorporated herein, is hereby approved, and the Metropolitan Mayor is hereby authorized to execute the same.
Section 2. That this resolution shall take effect from and after its adoption, the welfare of The Metropolitan Government of Nashville and Davidson County requiring it.
Agenda Analysis
Analysis
This amendment approves the third amendment to a grant contract between the Be a Helping Hand Foundation and the Metropolitan Housing Trust Fund Commission to construct affordable housing at 2124 14th Avenue North.
The grant agreement, between MHTFC and Be a Helping Hand Foundation, was approved on November 15, 2022, by Resolution No. RS2022-1857. According to the grant agreement, Be A Helping Hand was to construct two affordable housing units at 2124 14th Avenue North.
The first amendment to this contract, approved by RS2024-818, extended the grant term to the completion of the project, but not longer than 36 months from the execution of the grant agreement. The second amendment extended the grant term to the completion of the project, but not longer than 48 months from the execution of the grant agreement.
The proposed amendment alters the grant schedule to compensate the grant recipient for actual costs and track with construction costs. As amended, the recipient would draw five times. Draw 1 would be 45.7 percent of the grant amount to cover land loan costs, Draw 2 would be 10 percent of the grant amount to cover documented predevelopment and construction expense, Draw 3 would be 16 percent to cover documented construction expenses upon completion of footing, foundation, and framing and Metro inspection, Draw 4 would be 16 percent to cover construction expenses upon completion of roofing and mechanical and electrical rough-ins and metro inspection, and Draw 5 would be 12.63 percent to cover remaining construction costs upon receipt of Final Use and Occupancy permit from Metro Codes.