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A resolution authorizing grants not exceeding $9,407,278.00 from the Barnes Fund for Affordable Housing to certain nonprofit organizations for the express purpose of constructing and rehabilitating affordable or workforce housing.
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WHEREAS, the Metropolitan Housing Trust Fund Commission issued a request for application to qualified nonprofit organizations to participate in the nonprofit housing development grant program; and,
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 its regulations and procedures, the Metropolitan Housing Trust Fund Commission has accepted the recommendations of the Barnes Fund Review Committee that the appropriated funds be distributed to the following nonprofit organizations for the express purpose of constructing and rehabilitating affordable or workforce housing: Affordable Housing Resources, Habitat for Humanity, Be A Helping Hand, Samaritan Recovery Community, Mending Hearts, Inc., Urban Housing Solutions, and Woodbine Community Organization, Inc.; and,
WHEREAS, it is to the benefit of the citizens of The Metropolitan Government of Nashville and Davidson County that the grants to these nonprofit organizations 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 $9,407,278.00 from the Barnes Fund for Affordable Housing to fund grants to seven nonprofit organizations as follows:
|
Nonprofit |
Amount |
Exhibit |
|
Affordable Housing Resources, Inc. |
$784,300.00 |
A |
|
Habitat for Humanity |
$1,999,580.00 |
B |
|
Be A Helping Hand |
$249,000.00 |
C |
|
Samaritan Recovery Community |
$2,000,000.00 |
D |
|
Mending Hearts, Inc. |
$374,398.00 |
E |
|
Urban Housing Solutions |
$2,000,000.00 |
F |
|
Woodbine Community Organization, Inc. |
$2,000,000.00 |
G |
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 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 Exhibits A through G and incorporated herein.
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.
Agenda Analysis
Analysis
This resolution appropriates $9,407,278 from the Barnes Fund of Affordable Housing to various nonprofit affordable housing nonprofit organizations. 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 (MCL) provides that the Council may appropriate funds for the financial aid of nonprofit organizations by resolution. The term of the grant contracts is defined as being from the date of execution of the grant agreement until completion of the project, but not for longer than 24 months.
The resolution appropriates the following amounts:
• Affordable Housing Resources, Inc. --- $784,300
• Habitat for Humanity --- $1,999,580
• Be A Helping Hand --- $249,000
• Samaritan Recovery Community --- $2,000,0000
• Mending Hearts, Inc. --- $374,398
• Urban Housing Solutions --- $2,000,000
• Woodbine Community Organization, Inc. --- $2,000,000