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A resolution to approve the Fourth Amendment to a grant contract for constructing affordable housing approved by RS2018-1088 between The Metropolitan Government of Nashville and Davidson County, acting by and through the Metropolitan Housing Trust Fund Commission, and Crossroads Campus.
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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 Crossroads Campus for the express purpose of constructing affordable housing approved by RS2018-1088; and,
WHEREAS, Metro, acting by and through the Metropolitan Housing Trust Fund Commission, and Crossroads Campus executed a First Amendment to said grant contract on March 18, 2020, to extend the term of the grant contract, which amendment was approved by RS2020-242; and,
WHEREAS, Metro, acting by and through the Metropolitan Housing Trust Fund Commission, and Crossroads Campus executed a Second Amendment to said grant contract on March 22, 2021, to extend the term of the grant contract, which amendment was approved by RS2021-811; and,
WHEREAS, Metro, acting by and through the Metropolitan Housing Trust Fund Commission, and Crossroads Campus executed a Third Amendment to said grant contract on April 14, 2022, to extend the term of the grant contract, which amendment was approved by RS2022-1447; and,
WHEREAS, the parties wish to amend this grant contract by extending the term of the contract, a copy of which amendment is attached hereto and incorporated herein; 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 Fourth 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 Crossroads Campus, 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 resolution approves the Fourth Amendment to a grant contract for constructing affordable housing between the Metropolitan Housing Trust Fund Commission and Crossroads Campus, originally approved by Resolution No. RS2018-1088.
The original term of the contract was 24 months. The contract was previously extended to 36 months pursuant to RS2020-242, to 48 months by RS2021-811, and to 60 months by RS2022-1448. The resolution under consideration extends the term of the contract by an additional six months.
Fiscal Note: This resolution will extend the term of the contract but will not affect the balance of the Barnes Fund.