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A resolution appropriating a $5,000,000 grant from the U.S. Department of Housing and Urban Development to the Metropolitan Government, acting by and through the Housing Division of the Metro Nashville Planning Department, for Pathways to Removing Obstacles to Housing.
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WHEREAS, the Metropolitan Government, acting by and through the Housing Division of the Metro Planning Department, submitted a grant application in the amount of $10,000,000 to the U.S. Department of Housing and Urban Development (HUD) for Pathways to Removing Obstacles to Housing (PRO Housing) with a leverage commitment of $10,000,000; and
WHEREAS, HUD awarded the Metropolitan Government a grant in an amount not to exceed $5,000,000, with a leverage commitment of $5,000,000, that may be achieved through other Metro funds and incentives that further the PRO Housing activities, but a cash match is not required; and
WHEREAS, the Housing Division prepared an Action Plan, which has been approved by HUD, describing the following activities to be funded with the PRO Housing grant: an Affordable Housing Accelerator Program for small and emerging developers; a Faith-Based Development initiative; an Affordable Housing Finance Program to create permanent supportive and deeply affordable housing; and Grant Administration; 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, THEREFOE, BE IT RESOLVED BY THE COUNCIL OF THE METROPOLITAN GOVERNMENT OF NASHVILLE AND DAVIDSON COUNTY:
Section 1. That the grant awarded by the U.S. Department of Housing and Urban Development (HUD), in an amount not to exceed $5,000,000, to the Metropolitan Government, acting by and through the Housing Division of the Metro Planning Department, for Pathways to Removing Obstacles to Housing (PRO Housing), be appropriated to the Housing Division of the Metro Planning Department based on the revenue estimated to be received....
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