title
A resolution approving a grant from the Tennessee Housing Development Agency to the Metropolitan Government, acting by and through the Metropolitan Action Commission, to be used for emergency rental assistance in accordance with the purposes set forth in Section 3201 of the American Rescue Plan Act of 2021, to provide financial assistance and housing stability services to eligible tenants.
body
WHEREAS, the Tennessee Housing Development Agency has awarded a grant, in an amount not to exceed $1,403,317.50 with no cash match required, to the Metropolitan Government, acting by and through the Metropolitan Action Commission, to be used for emergency rental assistance in accordance with the purposes set forth in Section 3201 of the American Rescue Plan Act of 2021, to provide financial assistance and housing stability services to eligible tenants; and,
WHEREAS, it is to the benefit of the citizens of The Metropolitan Government of Nashville and Davidson County that this grant be accepted.
NOW, THEREFORE BE IT RESOLVED BY THE COUNCIL OF THE METROPOLITAN GOVERNMENT OF NASHVILLE AND DAVIDSON COUNTY:
Section 1. That the grant by and between the Tennessee Housing Development Agency, in an amount not to exceed $1,403,317.50, to the Metropolitan Government, acting by and through the Metropolitan Action Commission, to be used for emergency rental assistance in accordance with the purposes set forth in Section 3201 of the American Rescue Plan Act of 2021, to provide financial assistance and housing stability services to eligible tenants, a copy of which is attached hereto and incorporated herein, is hereby approved.
Section 2. That the amount of this grant is to be appropriated to the Metropolitan Action Commission based on the revenues estimated to be received and any match to be applied.
Section 3. 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 a grant from the Tennessee Housing Development Agency (“THDA”) to the Metropolitan Action Commission for emergency rental assistance in accordance with the American Rescue Plan Act of 2021. This funding would provide financial assistance and housing stability services to eligible tenants. The grant is part of THDA’s Emergency Rental Assistance Eviction Program, which aims to prevent evictions and keep renters stably housed.
The grant amount is not to exceed $1,403,317.50 with no local cash match. The grant term begins on August 1, 2023, and ends on July 31, 2025.