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A resolution modifying RS2021-1116, which appropriated $3,000,000.00 in American Rescue Plan Act funds from Fund #30216 to provide rent and mortgage payments and utilities payments, to extend the coverage date through June 30, 2023, and to expand mortgage relief to all participants who have household income up to and including 100% of AMI.
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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, Resolution 2021-1116 was passed by Metro Council on September 7, 2021, to provide rent and mortgage payments and utilities payments for Davidson County residents who suffered a negative economic impact during the coronavirus pandemic who do not meet the eligibility requirements of the HOPE program administered by the Metro Action Commission, to be administered by the United Way of Greater Nashville, a copy of which is attached as Exhibit A; and,
WHEREAS, the Metro Action Commission seeks to extend the effective date of mortgage payments for affected residents through June 30, 2023, and expand eligibility from all participants with a household income up to 80% of AMI to all participants with a household income up to 100% of AMI; and,
WHEREAS, the Committee finds that extension of the program and increasing the AMI threshold are appropriate uses of ARP funds; and,
WHEREAS, it is to the benefit of the citizens of The Metropolitan Government of Nashville and Davidson County that this resolution be approved.
NOW, THEREFORE, BE IT RESOLVED BY THE COUNCIL OF THE METROPOLITAN GOVERNMENT OF NASHVILLE AND DAVIDSON COUNTY:
Section 1. That the Metropolitan Council accepts this resolution as a recommendation of the COVID-19 Financial Oversight Committee.
Section 2. That the effective date of the mortgage relief program established by RS2021-1116 be extended through June 30, 2023.
Section 3. That eligibility for mortgage payments be extended to include all participants with a household income up to 100% of AMI.
Section 4. That this resolution shall take effect from and after its final passage, the welfare of the public requiring it.
Agenda Analysis
Analysis
This resolution modifies Resolution No. RS2021-1116 which provided rent and mortgage payments and utility payments, to extend the coverage date of the program and to expand those eligible for mortgage relief.
Resolution No. RS2021-1116, adopted by the Council on September 7, 2021, provided rent and mortgage payments and utility payments for Davidson County residents who suffered a negative economic impact during the coronavirus pandemic who do not meet the eligibility requirements of the HOPE program administered by the Metro Action Commission (MAC). The original expiration date of this program was June 30, 2022. This relief was available to Davidson County residents earning up to 80% of Area Median Income (AMI).
This resolution extends the end date of the rent, mortgage, and utility relief program through June 30, 2023. Further, the eligibility requirements to receive mortgage payment relief would be expanded to include all applicants with a household income up to 100% of AMI.