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A resolution authorizing grants not exceeding $6,328,415.10 from the Barnes Fund for Affordable Housing to fund a previously expired grant to certain nonprofits for the express purpose of constructing and rehabilitating affordable or workforce housing.
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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 Trust Fund Commission voted to redistribute the unexpended funds to various non-profit organizations whose grant contracts had previously expired; and,
WHEREAS, it is to the benefit of the citizens of The Metropolitan Government of Nashville and Davidson County that these grant contracts 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 $6,328,415.10 from the Barnes Fund for Affordable Housing to fund a previously expired grant to the following nonprofit organizations as follows:
|
Nonprofit |
Amount |
Project Type |
# of Barnes Fund Homes |
Council District |
Exhibit |
Originally Approved Resolution |
|
Appalachian Home & Health, Inc. |
$866,250.00 |
Rental |
238 |
5 |
A |
RS2022-1858 |
|
Be A Helping Hand Foundation |
$319,499.80 |
Rental |
5 |
2 and 21 |
B |
RS2022-1443 |
|
Urban Housing Solutions, Inc. (R9) |
$1,312,500.00 |
Rental |
125 |
13 |
C |
RS2022-1443 |
|
Urban Housing Solutions (R11) |
$572,747.88 |
Rental |
48 |
16 |
D |
RS2023-2251 |
|
Urban League of Middle Tennessee |
$2,007,417.42 |
Rental |
50 |
9 |
E |
RS2023-2194 |
|
Woodbine Community Organization |
$1,250,000.00 |
Rental |
265 |
2 and 5 |
F |
RS2022-1443 |
Section 2. The Metropolitan Government of Nashville and Davidson County is hereby authorized to enter into grant contracts with each of the nonprofit organizations listed in Section 1 for the grant amounts designated therein, subject to the terms and conditions under which the grant funds are to be spent, attached hereto as Exhibits A through F and incorporated herein.
Section 3. This Resolution shall take effect from and after its adoption, the welfare of the Government of Nashville and Davidson County requiring it.
Agenda Analysis
Analysis
This resolution authorizes grants not exceeding $6,328,415.10 to fund previously expired grants to six nonprofit organizations selected for the express purpose of constructing and rehabilitating affordable or workforce housing.
The Metropolitan Housing Trust Fund Commission voted to reallocate the unspent funds from the six non-profit organizations whose grant contracts had previously expired. The unspent funds would be reappropriated to the same non-profit organizations through new grant contracts.
The funding would be appropriated as follows:
• Appalachian Home & Health, Inc. -- $866,250
• Be A Helping Hand Foundation -- $319,499.80
• Urban Housing Solutions, Inc. (R9) -- $1,312,500
• Urban Housing Solutions, Inc. (R11) -- $572,747.88
• Urban League of Middle Tennessee -- $2,007,417.42
• Woodbine Community Organization -- $1,250,000
Tenn. Code Ann. § 7-3-314 authorizes Metro to provide financial assistance to nonprofit organizations. In addition, Section 5.04.070 of the Metro Code of Laws provides that the Council may appropriate funds for the financial aid of nonprofit organizations by resolution.
The grant contracts are attached to the resolution. The terms of the grant contracts begin on the date of execution of the grant agreement and extend until completion of the project, but no longer than 24 months.
Per state law and section 5.04.070 of the Metro Code, adoption of this resolution requires 21 affirmative votes.