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A resolution appropriating $1,100,000.00 in
American Rescue Plan Act funds from Fund #30216 to permit the Mayor's Office of Economic and Community Development to create an inclusive and equitable economic development
plan and policy, and to conduct a market value analysis, which promotes balanced and strategic growth in Metropolitan Nashville and Davidson County.
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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 Count, 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, the Committee recognizes that supporting local business development, including the maintenance and sustainability of small businesses, is a critical priority for the city; and,
WHEREAS, the Committee recognizes the negative financial effects of the COVID-19 pandemic as they apply to local businesses; and,
WHEREAS, the Mayor's Office of Economic and Community Development recognizes the importance of strategic
planning with respect to local business attraction and development; and,
WHEREAS, the Mayor's Office of Economic and Community Development seeks to engage an external cons...
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