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An ordinance to amend Section 2.149.040 of the Metropolitan Code of Laws regarding the Barnes Fund for Affordable Housing.
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WHEREAS, on July 6, 2021, the Metropolitan Council approved Ordinance No. BL2021-725, as amended, which required a set aside of at least 20% of Barnes Fund grants for the creation and preservation of affordable housing or capacity building for organizations that create or preserve affordable housing to be awarded to small nonprofit, provided that a sufficient number of qualified applications were received; and
WHEREAS, this set aside was a requirement for Fiscal Years 2022 and 2023, but was only an aspirational goal in Fiscal Year 2024 and after; and
WHEREAS, this set aside has been a successful tool in assisting with the growth of small nonprofits who work to provide affordable housing; and
WHEREAS, it is to the benefit of the residents of Nashville and Davidson County to make this set aside a permanent criteria for the awarding of grant funds from the Barnes Fund for Affordable Housing.
BE IT ENACTED BY THE COUNCIL OF THE METROPOLITAN GOVERNMENT OF NASHVILLE AND DAVIDSON COUNTY:
Section 1. That Section 2.149.040 of the Metropolitan Code of Laws is hereby amended by deleting subsection G and replacing it with the following:
G. Make recommendations to the metropolitan council regarding the awarding of grants from the Barnes Fund, including funds appropriated yearly by the metropolitan council through the operating budget ordinance, to deserving nonprofit organizations and nonprofit civic organizations, or as otherwise authorized by state law, supporting the purposes of the commission. Criteria for the awarding of such funds shall be established by the commission. The criteria shall include setting aside at least twenty percent of such grants to be used for the creation and preservation of affordable housing or capacity building for organizations that create or preserve affordable housing to be awarded to small nonprofit...
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