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A resolution appropriating $10,000,000 in American Rescue Plan Act funds from Fund #30216 to Fisk University for the renovation and upgrading of Burrus Hall in a public/private partnership with Metro Government to establish a small business entrepreneurship and innovation facility in North Nashville.
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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 the importance of establishing a small business incubation and innovation center in North Nashville, which, among other things, will serve as a jumping-off point for minority entrepreneurs and innovators to take their ideas and business to the next level; and,
WHEREAS, the Committee recognizes that Fisk University has a plan to establish such a program at Burrus Hall in an academic centered environment, that would be available to the surrounding community and accessibly to the public at large, rivaling similarly successful programs across the United States, as further described in Exhibit A; and,
WHEREAS, the Commit...
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