ADOPTED 12/15/1998

RESOLUTION NO. R98-1366

A resolution appropriating $185,000 of Capital Mall Urban Development Action Grant (UDAG) repayment funds for economic development activities.

WHEREAS, by Ordinance No. 090-1112, the Metropolitan Council allocated a portion of payments received in connection with the Capital Mall Urban Development Action Grant (UDAG) to economic development activities in Nashville's Pocket of Poverty; and

WHEREAS, it is deemed to be in the best interest of the Metropolitan Government to appropriate funds from the Capital Mall Urban Development Action Grant (UDAG) repayment funds to the Metropolitan Development and Housing Agency (MDHA) for the purpose of economic development activities by assisting the Jefferson Life Corporation with a development located on Jefferson Street.

NOW, THEREFORE, BE IT RESOLVED BY THE COUNCIL OF THE METROPOLITAN GOVERNMENT OF NASHVILLE AND DAVIDSON COUNTY:

Section 1. That the sum of one hundred eighty-five thousand dollars ($185,000) is hereby appropriated from the Capital Mall Urban Development Action Grant (UDAG) Repayment Funds, to MDHA for the purpose of economic development activities for the specific purpose described hereinabove located in the Jefferson Street Commercial District.

Section 2. That this ordinance shall take effect from and after its adoption, the welfare of The Metropolitan Government of Nashville and Davidson County requiring it.

Sponsored By: Morris Haddox & Julius Sloss

LEGISLATIVE HISTORY
Referred to:	Federal Grants Review Committee
Introduced:	December 15, 1998
Adopted:	December 15, 1998
Approved:	December 17, 1998
By: