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A resolution amending RS2022-1362, which appropriated $1,046,000.00 in American Rescue Plan Act funds from Fund #30216 to the Nashville Fairgrounds to provide rent relief to vendors at the Nashville Flea Market, to extend the effective date and extend the rent relief.
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WHEREAS, Resolution 2022-1362 was passed by Metro Council on February 1, 2022, to provide rent relief to vendors of the Nashville Flea Market; and,
WHEREAS, the Committee finds that extending the effective date of the relief payments to September 30, 2024 and expanding rent relief beyond 8 months will continue to assist vendors in reinvesting in or initiating their small businesses at the Nashville Flea Market; 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 rent relief program established by RS2022-1362 be extended through September 30, 2024 and that the eligibility for rent relief be extended beyond 8 months as further detailed in Exhibit A.
Section 3. Quarterly reporting from The Nashville Fairgrounds to the COVID-19 Oversight Committee is required. The required information includes but is not limited to the following:
a. Accounting of all grant funds, including identification of grant fund recipients
b. Use of funds and balance of funds remaining from the $1,064,000.00 allocation
c. Program results such as number of vendors receiving rent relief, the number of months and dollar value of that relief, zip codes of the vendors, etc.
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 amends an appropriation of $1,046,000 in American Rescue Plan Act (“ARP”) funds from Fund #30216 to the Nashville Fairgrounds, originally approved by Resolution No. RS2022-1362.
The original resolution approved an appropriation to the Nashville Fairgrounds to provide rent relief for Flea Market dealers. Permanent dealers, defined as dealers who commit to eight consecutive months of rental and a permanent booth space assignment, are eligible for up to eight months of rent. This includes dealers that held permanent status as of March 2020, regardless of attendance since May 2021. Non-permanent dealers, who attend periodically or do not desire to commit to eight consecutive months of rental, are eligible for up to four months of rent. New dealers, defined as dealers who have not rented booth space within the last two years, are eligible for up to two months of rent.
This resolution extends the eligibility period for relief payments from eight months through September 30, 2024. Approximately $545,700 from the original appropriation remains available for rent relief.
The Nashville Fairgrounds will be required to report quarterly to the COVID-19 Oversight Committee. The required information includes, but is not limited to, accounting of all grant funds, including identification of grant fund recipients, the use of funds and balance of fund remaining from the original allocation, and the program results, such as number of vendors receiving rent relief, the number of months and dollar value of the relief, zip codes of the vendors, etc.