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A Resolution authorizing the execution of a Cooperation Agreement between The Metropolitan Government of Nashville and Davidson County and the Metropolitan Development and Housing Agency.
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WHEREAS, pursuant to the Tennessee Housing Authorities Act, the Metropolitan Government of Nashville and Davidson County (the "Metropolitan Government") has heretofore executed cooperation agreements with the Metropolitan Development and Housing Agency (the "Agency") in support of housing projects owned by the Agency; and
WHEREAS, the Agency is in the process of converting its traditional public housing under the U.
S. Department of Housing and Urban Development's Rental Assistance Demonstration program allowing the Agency to participate in various financial scenarios to ensure the long-term financial security of low income housing; and
WHEREAS, the Metropolitan Government is desirous of assisting and cooperating with the Agency to operate, maintain, construct, and reconstruct mixed income housing including affordable and workforce housing by entering into a Cooperation Agreement, a copy of which is attached hereto as Exhibit A (the "Agreement"); and
WHEREAS, Resolution RS2017-690, as amended, adopted on May 16, 2017, approved the execution of a prior cooperation agreement; and
WHEREAS, the parties propose to enter into a new cooperation agreement (the "Agreement") as set forth herein.
NOW, THEREFORE, BE IT RESOLVED BY THE COUNCIL OF THE METROPOLITAN GOVERNMENT OF NASHVILLE AND DAVIDSON COUNTY:
Section 1: That the Agreement, by which the Metropolitan Government undertakes to furnish to the Agency and its residents the same types and level of public services and facilities that are provided without cost or charge to other dwellings and inhabitants of the community at large, is approved, and the Metropolitan Mayor is authorized to execute and deliver it.
Section 2: That this Resolution shall take effect from and after its adoption, the welfare of the Metropolita...
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