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A resolution to approve the Second Amendment to a grant contract for constructing affordable housing approved by RS2023-2251 between The Metropolitan Government of Nashville and Davidson County, acting by and through the Metropolitan Housing Trust Fund Commission, and Urban League of Middle Tennessee.
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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 Urban League of Middle Tennessee, for the express purpose of constructing affordable housing approved by RS2023-2251; and,
WHEREAS, Metro, acting by and through the Metropolitan Housing Trust Fund Commission, and Urban League of Middle Tennessee executed a First Amendment to said grant contract to redefine the scope of the contract, approved by RS2023-71; and,
WHEREAS, the parties wish to amend this grant contract by extending the term of the contract to 36 months, 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 League of Middle Tennessee, 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 the Urban League of Middle Tennessee. Pursuant to Resolution No. RS2023-2251, the Metropolitan Housing Trust Fund Commission entered into grant agreements with multiple nonprofits, including the Urban League, for the express purpose of constructing affordable housing.
The original grant contract, approved by RS2023-2251, provided $2,000,000 in funding to add 116 affordable housing units eligible for individuals making 31-60% of area median income (“AMI”) located at 590 Joseph Avenue, the former site of Riverchase Apartments. The first amendment, approved by RS2023-71, amended the scope of the program and allowed the Urban League to add 35 units of rental housing for individuals making at or below 30% AMI and 53 units of rental housing for individuals making 31 to 60% AMI, for a total of 88 units.
The resolution under consideration would approve the second amendment to the grant contract with the Urban League. This amendment would extend the term of the grant contract to 36 months. No other changes would be made to the agreement.