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A resolution approving a grant from the U.S. Department of the Treasury to the Metropolitan Government, acting by and through the Metropolitan Action Commission, to be used for emergency rental assistance in accordance with the purposes set forth in Section 501, Subtitle A, Title V, Division N of the Consolidated Appropriations Act, 2021.
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Whereas, the U.S. Department of the Treasury has awarded a grant, in an amount not to exceed $30,636,925.12 with no cash match required, to the Metropolitan Government, acting by and through the Metropolitan Action Commission, to be used for emergency rental assistance in accordance with the purposes set forth in Section 501, Subtitle A, Title V, Division N of the Consolidated Appropriations Act, 2021; and,
WHEREAS, RS2021-1142 approved a grant to the Metropolitan Action Commission in the amount of $24,764,550.18 from the Tennessee Housing Development Agency (THDA) to be used for emergency rental assistance; and,
WHEREAS, prior to disbursement of the grant approved by RS2021-1142, the THDA returned those funds to the U.S. Department of the Treasury who has now reallocated those funds in the above grant; and,
Whereas, it is to the benefit of the citizens of The Metropolitan Government of Nashville and Davidson County that this grant be accepted.
Now, therefore be it resolved by the Council of The Metropolitan Government of Nashville and Davidson County:
Section 1. That the grant by and between the U.S. Department of the Treasury, in an amount not to exceed $30,636,925.12, to the Metropolitan Government, acting by and through the Metropolitan Action Commission, to be used for emergency rental assistance in accordance with the purposes set forth in Section 501, Subtitle A, Title V, Division N of the Consolidated Appropriations Act, 2021, a copy of which is attached hereto and incorporated herein, is hereby approved.
Section 2. That the amount of this grant is to be appropriated to the Metropolitan Action Commission based on the revenues estimated to be received and any match to be applied.
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 accepts a grant from the U.S. Department of Treasury to the Metropolitan Action Commission in an amount not to exceed $30,636,925.12 with no cash match required. This grant will be used for emergency rental assistance in accordance with the purpose set forth in Section 501, Subtitle A, Title V, Division N of the Consolidated Appropriations Act, 2021.
Resolution No. RS2021-1142 approved a grant to the Metropolitan Action Commission in the amount of $24,764,550.18 from the Tennessee Housing Development Agency (“THDA”) to be used for emergency rental assistance. Prior to disbursement of the grant approved by RS2021-1142, THDA returned those funds to the U.S. Department of Treasury who has now reallocated those funds directly to Metro in the above grant. Consistent with federal law, these funds will be used to provide emergency rental assistance and payment of utilities and home energy costs.
The term of this grant begins February 2, 2022 and ends on September 30, 2022.