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A resolution authorizing grants not exceeding $4,531,993.00 from the Barnes Fund for Affordable Housing to certain nonprofit organizations selected for the express purpose of constructing affordable or workforce housing for older adults.
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WHEREAS, on January 16, 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 November 17, 2022, Metropolitan Council appropriated $8,000,000 in American Rescue Plan Act funding to the Housing Division of the Planning Department for the express purpose of supporting housing for older adults through RS2022-1861; 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, there are federal requirements for use of ARP Funds that require that these funds be expended or obligated on or before December 31, 2024; and,
WHEREAS, Section 7-3-314 of the Tennessee Code Annotated states that metropolitan forms of government may provide financial assistance to a nonprofit organization in accordance with the guidelines of the Metropolitan Government; and,
WHEREAS, Sectio...
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