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A resolution to amend RS2022-1860, reallocating funds formerly allocated to Collective or Shared Equity Housing to both the Strobel Center and Barnes Fund, and RS2022-1861, reallocating funds formerly allocated to Shared Housing Improvements to the Barnes Fund.
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WHEREAS, RS2022-1860 appropriated $10,000,000 in American Rescue Plan Act funds to the Housing Division of the Metropolitan Planning Department in order to increase homeownership and housing security for populations with historical barriers and demonstrated inequities in homeownership; and,
WHEREAS, RS2022-1860, Exhibit A, originally allocated $9,500,000 to Collective or Shared Equity Housing; and,
WHEREAS, some of these funds have been spent, but the Planning Department has recognized that some of these funds would be better utilized in other endeavors; and
WHEREAS, it is desirable to reallocate $4,400,000 of these funds to the Strobel Center, to be used for supportive services and operating expenses; and
WHEREAS, it is desirable to reallocate $4,039,446 of these funds to be used for eligible Barnes Fund R13 projects that will increase affordable housing units; and
WHEREAS, RS2022-1861 appropriated $8,000,000 in American Rescue Plan Act funds to the Housing Division of the Metropolitan Planning Department to support housing for older adults by developing affordable housing inventory and creating opportunities for homeowners to age in place,
WHEREAS, RS2022-1861, Exhibit A, allocated $1,200,000 of this sum to Shared Housing Improvements; and,
WHEREAS, none of these funds having been spent; and,
WHEREAS, the Planning Department identified applications from the most recent Barnes Fund that could not be funded; and,
WHEREAS, it is desirable to reallocate the entirety of the $1,200,000 to Barnes Fund Round 13 projects that will increase affordable housing units; and
WHEREAS, it is to the benefit of the citizens of The Metropolitan Government of Nashville and Davidson County that all of these fun...
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