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A resolution to approve the First Amendment to a grant contract for constructing affordable housing approved by RS2020-242 between The Metropolitan Government of Nashville and Davidson County, acting by and through the Metropolitan Housing Trust Fund Commission, and Living Development Concepts, Inc.
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WHEREAS, The Metropolitan Government of Nashville and Davidson County (“Metro”), acting by and through the Metropolitan Housing Trust Fund Commission, previously entered into a grant contract with Living Development Concepts, Inc. for the express purpose of constructing affordable housing approved by RS2020-239; and,
WHEREAS, the parties wish to amend this grant contract by extending the term of the grant agreement; and,
WHEREAS, it is to the benefit of the citizens of The Metropolitan Government of Nashville and Davidson County that the amendment to the grant contract be approved.
NOW, THEREFORE BE IT RESOLVED BY THE COUNCIL OF THE METROPOLITAN GOVERNMENT OF NASHVILLE AND DAVIDSON COUNTY:
Section 1. That this First Amendment to the grant contract for constructing affordable housing between The Metropolitan Government of Nashville and Davidson County, acting by and through the Metropolitan Housing Trust Fund Commission, and Living Development Concepts, Inc., a copy of which is attached hereto and incorporated herein, is hereby approved, and the Metropolitan Mayor is authorized to execute the same.
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
Analysis
This resolution approves the first amendment to a grant contract for the construction of affordable housing approved by Resolution No. RS2020-242. The grant contract is between the Metropolitan Housing Trust Fund Commission and Living Development Concepts, Inc. for the purpose of constructing affordable housing. The term of the original contract was 24 months. This amendment would extend the term to 36 months. No other changes would be made to the contract.