title
A resolution to approve the Second Amendment to a grant contract for constructing affordable housing approved by RS2022-1443 between The Metropolitan Government of Nashville and Davidson County, acting by and through the Metropolitan Housing Trust Fund Commission and Urban Housing Solutions, Inc.
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 Urban Housing Solutions Inc., for the express purpose of constructing affordable housing approved by RS2022-1443; and,
WHEREAS, Metro, acting by and through the Metropolitan Housing Trust Fund Commission, and Urban Housing Solutions, Inc., executed a First Amendment to said grant contract to amend the term of the contract, approved by RS2024-334; and,
WHEREAS, the parties wish to amend the grant contract by updating the grant draw schedule, 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 Second 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 Urban Housing Solutions, Inc., 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 second amendment to a grant contract between the Metropolitan Housing Trust Fund Commission and Urban Housing Solutions, Inc., originally approved by RS2022-1443 and amended by RS2023-334.
Urban Housing Solutions, Inc. received two grant contracts pursuant to RS2022-1443 in Exhibit I and M of the resolution, each with a grant award of $1,500,000. RS2023-334 extended the term of the grant for both contracts from 24 months to 36 months.
The resolution under consideration approves an amendment to the Payment Methodology to update the grant draw schedule for the grant contract approved in Exhibit M to RS2022-334. The Council Office recommends an amendment to clarify which grant contract is being amended.