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A resolution approving amendments to two grant contracts for constructing affordable housing approved by RS2019-1861 between The Metropolitan Government of Nashville and Davidson County, acting by and through the Metropolitan Housing Trust Fund Commission, and certain non-profit organizations.
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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 grant contracts with Renewal House and Urban Housing Solutions for the express purpose of constructing affordable housing approved by RS2019-1861; and,
WHEREAS, Metro, acting by and through the Metropolitan Housing Trust Fund Commission, and Renewal House and Urban Housing Solutions executed a First Amendment to said grant contracts on August 3, 2021, to extend the term of the grant contracts, which amendment was approved by RS2021-1065; and,
WHEREAS, the parties wish to amend these two grant contracts by extending the term of each contract, copies of which amendments are 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 amendments to the grant contracts be approved.
NOW, THEREFORE BE IT RESOLVED BY THE COUNCIL OF THE METROPOLITAN GOVERNMENT OF NASHVILLE AND DAVIDSON COUNTY:
Section 1. That amendment two to two grant contracts for constructing affordable housing between The Metropolitan Government of Nashville and Davidson County, acting by and through the Metropolitan Housing Trust Fund Commission, and Renewal House and Urban Housing Solutions, copies of which are attached hereto and incorporated herein, are 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 amendments to two grant contracts between the Metropolitan Housing Trust Fund Commission and two nonprofit organizations. Pursuant to Resolution No. RS2019-1861, the Metropolitan Housing Trust Fund Commission entered into grant agreements with multiple nonprofits, including Renewal House and Urban Housing Solutions, for the express purpose of constructing affordable housing. These two grant agreements were previously amended to extend the term of the grant pursuant to Resolution No. RS2021-1065.
The resolution under consideration approves the second amendment to both grant contracts to extend the term of each contract. The original contracts were set to terminate 24 months from execution of the grant agreement. The first amendment to each grant extended the term to no greater than 36 months from the execution of the agreement. The amendments under consideration extend the term of each agreement to no greater than 42 months from the execution of the agreement. No other amendments would be made to either grant agreement.