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A resolution approving nonprofit partners for technical assistance, marketing and outreach to assist underserved small businesses through the Nashville Small Business Recovery Fund.
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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 County, 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, Metro Council approved Resolution RS2022-1356, which appropriated $20,000,000.00 in ARP Funds to create the Fund, including a $2,000,000.00 allocation for technical assistance and marketing and outreach grants to nonprofit partners with the intention to increase minority applications of business in the North Nashville and Southeast Nashville for the grants and capital loans available, ("the Support Program"); and,
WHEREAS, ECD has reviewed and scored applications for the Support Program and recommended ten nonprofit partners to receive various allocations totaling $1,674,960.00, which is further described in the attached exhibit; and,
WHEREAS, ECD recommends that the remaining $325,040.00 be retained by ECD as additional funds available to support the techn...
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