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File #: RS2021-1225    Name:
Type: Resolution Status: Passed
File created: 10/24/2021 In control: Metropolitan Council
On agenda: 11/2/2021 Final action:
Title: A resolution appropriating to certain accounts for the benefit of Water and Sewerage Services in the amount of Eight Million Six Hundred Thousand Dollars ($8,600,000).
Sponsors: Burkley Allen, Zach Young

title

A resolution appropriating to certain accounts for the benefit of Water and Sewerage Services in the amount of Eight Million Six Hundred Thousand Dollars ($8,600,000).

body

WHEREAS, the Metropolitan Council desires to appropriate to certain accounts for the benefit of Water and Sewerage Services in the amount of Eight Million Six Hundred Thousand Dollars ($8,600,000). from undesignated fund balances of the Stormwater Revenue Fund for the purpose of acquiring and demolishing flood prone properties; and,

WHEREAS, Water and Sewerage Services acquires and demolishes properties that are in the floodplain and/or floodway to eliminate or reduce the long-term risk to human life and property from the effects of flooding, as well as keep first responders out of harm’s way; and

WHEREAS, by acquiring and demolishing properties that are in the floodplain and/or floodway the costs for a flood claim paid by the National Flood Insurance Program are also eliminated ; and

WHEREAS, it is in the public interest for The Metropolitan Government of Nashville and Davidson County to acquire and demolish flood-prone properties.

Now, therefore, be it resolved by the Council of the Metropolitan Government of Nashville and Davidson County:

Section 1: That the following amounts from the Undesignated Fund Balance of the Stormwater Revenue Fund is hereby appropriated:

PRIMARY EXPENDITURE ACCOUNT #

ACCOUNT DESCRIPTION

AMOUNT

67411.531000

Stormwater Revenue - Transfer to Home Buyout Grant Fund

$8,600,000

 

TOTAL

$8,600,000

Section 2: That the appropriation in Section 1 is funded from the following source:

REVENUE ACCOUNT #

ACCOUNT DESCRIPTION

AMOUNT

67411.335000

Stormwater Revenue - Undesignated Fund Balance

$8,600,000

 

TOTAL

$8,600,000

Section 3: 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

Analysis

 

This resolution appropriates $8,600,000 from the Undesignated Fund Balance of the Stormwater Revenue Fund for the purpose of acquiring and demolishing flood prone properties. The Metropolitan Department of Water and Sewerage Services acquires and demolishes properties that are in the flood plain and/or floodway to eliminate or reduce the long-term risk to human life and property from the effects of flooding, as well as keep first responders out of harm’s way.