title
A resolution amending RS2020-515 to clarify that all Nashville music venues with less than $5,000,000.00 in revenue are eligible for funds under that resolution.
body
WHEREAS, on September 1, 2020, the Metropolitan Council passed RS2020-515 allocating federal CARES Relief Act funds to be distributed to live music venues, as recommended by the COVID-19 Financial Oversight Committee; and,
WHEREAS, the administrator of these funds, Pathway Lending, has sought clarification as to the live music venues eligible for these funds; and,
WHERES, the COVID-19 Financial Oversight Committee seeks to clarify that all live music venues in Davidson County, as further defined below and in RS2020-515, are eligible for funds; and,
WHEREAS, there are federal requirements for use of CARES Act funds and the COVID-19 Financial Oversight Committee requires that the funds in RS2020-515 be used or distributed on or before November 15, 2020.
NOW, THEREFORE, BE IT RESOLVED BY THE COUNCIL OF THE METROPOLITAN GOVERNMENT OF NASHVILLE AND DAVIDSON COUNTY:
Section 1: Section 4, Paragraph 3(a) of RS2020-515 is removed and replaced with the following:
a. Eligible venues must be physically located in Davidson County and primarily used for live music entertainment.
Section 2: 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
This resolution amends Resolution No. RS2020-515 to clarify that all Nashville music venues with less than $5 million in revenue are eligible for funding from the CARES Act grant appropriation. On September 1, 2020, the Council approved a late-filed resolution (RS2020-515), which approved recommendations by the COVID-19 Financial Oversight Committee for distribution of $2,000,000 in CARES Act funds to provide financial support to live music venues, to be administered by Pathway Lending. The resolution specifically provided that Pathway Lending is to distribute emergency support grants to Nashville live music venues to provide a maximum of two months of current operating expenses, excluding payroll, not to exceed a grant of $100,00 per recipient, and that these distributions be made in accordance with the financial requirements of the federal CARES Act and the financial reporting requirements of the Director of Finance. RS2020-515 provided that venues must meet the following criteria to be eligible for funding:
• Must be independent, Nashville-owned and primarily used for live music entertainment
• Must require concert tickets, admissions, and/or cover charges for entry at least 50% of the time the facility is open to the public
• Must be subsidiary or dependent upon live music performances
• Annual receipts for the 12 month period ended February 29, 2020 cannot exceed $5,000,000
• Cannot have been convicted of a citation, warrant, or administrative penalty for violation of a Metro emergency COVID-19 public health order
Pathway Lending has requested clarification regarding the live music venues eligible to receive the funds. Per the recommendation of the COVID-19 Financial Oversight Committee, this resolution amends RS2020-515 to delete the requirement that the venue be “independent, Nashville-owned and primarily used for live music entertainment,” and replaces it with the requirement that the venue be physically located in Davidson County and primarily used for live music entertainment.