File #: RS2024-273    Name:
Type: Resolution Status: Passed
File created: 2/23/2024 In control: Metropolitan Council
On agenda: 3/7/2024 Final action: 3/7/2024
Title: A resolution appropriating $150,000.00 in funds from the Nashville Small Business Recovery Fund included in American Rescue Plan Act Fund #30216 to support small business entrepreneurs.
Sponsors: Jennifer Gamble, Sandra Sepulveda, Courtney Johnston, Delishia Porterfield, Ginny Welsch, Zulfat Suara, Emily Benedict, Kyonzte Toombs, Jacob Kupin, Brenda Gadd, Terry Vo, Quin Evans-Segall
Attachments: 1. Exhibit A
title
A resolution appropriating $150,000.00 in funds from the Nashville Small Business Recovery Fund included in American Rescue Plan Act Fund #30216 to support small business entrepreneurs.
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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, on February 1, 2022, Resolution RS2022-1356 established the Nashville Small Business Recovery Fund ("NSBRF") and provided $20,000,000.00 for nonprofit organizations to assist small businesses in accessing grant and loan funds available through the NSBRF; and,
WHEREAS, there are still funds available to those original nonprofits funded through the NSBRF; and,
WHEREAS, the Committee recognizes the importance of on-going support to minority, small business owners beyond the startup phase, and providing additional resources during the critical beginning stages of starting a business; and,
WHEREAS, Corner to Corner, through the program The Academy, as further described in Exhibit A, empowers underserved and underrepresented entrepreneurs with the tools to pla...

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