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A resolution authorizing grants not exceeding $7,000,000.00 from the Barnes Fund for Affordable Housing to William Franklin Buchanan Community Development Corporation for the express purpose of creating affordable or workforce housing utilizing American Rescue Plan Act funds.
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WHEREAS, on November 1, 2023, the Metropolitan Housing Trust Fund Commission issued a request for application to qualified nonprofit organizations to participate in the nonprofit housing development grant program; and,
WHEREAS, on June 15, 2021, the Metropolitan Council passed Resolution RS2021-966, a resolution which accepted grant funds for local government support from the Coronavirus State and Local Fiscal Recovery Funds established by the American Rescue Plan Act of 2021 ("ARP Funds") from the U.S. Department of the Treasury to The Metropolitan Government of Nashville and Davidson County, which was subsequently signed into law by Mayor John Cooper on June 16, 2021; and,
WHEREAS, Resolution RS2021-966 established a COVID-19 Financial Oversight Committee (("the Committee") whose role is to collect, consider, and recommend appropriate uses of the ARP Funds as designated by the Metropolitan Council disbursement plan. The Committee will submit its reports and recommendations to the Mayor, the Director of Finance, and the Metropolitan Council not later than June 30, 2025; and,
WHEREAS, on November 17, 2022, Metropolitan Council appropriated $7,000,000 in ARP Funds to the Housing Division of the Planning Department for the express purpose of building innovative affordable housing for families at or below 50% AMI through RS2022-1862; and,
WHEREAS, on November 17, 2022, Metropolitan Council appropriated $10,000,000 in ARP Funds to the Housing Division of the Planning Department for the express purpose of increasing homeownership opportunities and housing security for populations with historical barriers and demonstrated inequities in homeownership through RS2022-1860; and,
WHERE...
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