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A resolution to approve the First Amendment to a grant contract for constructing affordable housing approved by RS2024-591 between The Metropolitan Government of Nashville and Davidson County, acting by and through the Metropolitan Housing Trust Fund Commission, and The Housing Fund, Inc.
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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 The Housing Fund, Inc., for the express purpose of constructing affordable housing approved by RS2024-591; and,
WHEREAS, the parties wish to amend this grant contract by extending the term of the contract, and clarifying the funding of the awarded grant budget; 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 First 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 The Housing Fund, 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 first amendment to a grant contract between the Metropolitan Housing Trust Fund Commission, and The Housing Fund, Inc. to construct affordable housing.
Pursuant to RS2024-591, The Housing Fund, Inc. was granted $760,554 to construct 5 units of affordable housing on Nashville Community Land Trust parcels on 22nd Avenue North, Herman Street, Batavia Street, Maury Street, and Green Street.
The proposed amendment removes references to American Rescue Plan Act (ARPA) funds and extends the term of the contract to end on October 31, 2026.