RESOLUTION NO. RS2000-414

A resolution recognizing the selection of the Nashville Housing Fund (partnering with Affordable Housing Resources) as program administrator for the Homeownership for Metro Employees (HoME) program for fiscal year 2000-2001.

Whereas, Mayor Bill Purcell has determined that increasing the availability of affordable housing in Nashville is one of his highest priorities; and

Whereas, the Metropolitan Council has budgeted $1.0 million dollars in fiscal year 2000-2001 to fund programs to provide more affordable housing; and

Whereas, the Metropolitan Government of Nashville and Davidson County values its employees and wants to encourage them to live in Davidson County; and

Whereas, by owning homes in Davidson County, Metro's employees are investing in the neighborhoods and communities of Davidson County, are paying property taxes, and are participating in the economic, social, recreational, and cultural life of the city; and

Whereas, homeowners become more involved in their neighborhoods, take a more active role in their schools and political institutions, and anchor the social fabric of the community; and

Whereas, the Homeownership for Metro Employees (HoME) program will provide assistance of up to $5,000 in the form of a forgivable second mortgage to be used for down payment and closing costs on the purchase of eligible property by eligible Metro employees; and

Whereas, the HoME program is a model for other employers in Davidson County, to encourage them to offer incentives to attract and retain employees and to help their employees afford homeownership; and

Whereas, the Nashville Housing Fund has established a significant position in Nashville as a resource provider for developers of affordable housing; and

Whereas, the Nashville Housing Fund is the leading provider of down payment and closing cost assistance, having closed over one thousand affordable housing loans in Davidson County over the past four years working with 14 local lenders and over 50 closing attorneys; and

Whereas, Affordable Housing Resources has distinguished itself as the leading non-profit provider of new affordable homes in Nashville, working with the MDHA and others; and

Whereas, AHR has closed nearly 350 Waller Fund loans over the past eight years and has a full counseling staff available to assist HoME applicants; and

Whereas, AHR is an accredited member of the national NeighborWorks network sponsored by the Neighborhood Reinvestment Corporation; and

Whereas, the Nashville Housing Fund and Affordable Housing Resources, two of Nashville's premier non-profit housing organizations, have formed a partnership to administer the HoME program; and

Whereas, the Division of Affordable Housing selected the Nashville Housing Fund (partnering with Affordable Housing Resources) to administer the HoME program through a competitive Request for Proposals, pursuant to Section 4.12.040 of the Metro Procurement Code; and

Whereas, by Resolution RS2000-367, the Metropolitan Government appropriated $500,000 from the general fund of the General Services District designated as a reserve account for affordable housing to the Affordable Housing account in the general fund of the General Services District for the purpose of providing a grant to a non-profit entity to fund and administer the Homeownership for Metro Employees (HoME) program for fiscal year 2000-2001.

Now, therefore, be it resolved by the Council of The Metropolitan Government of Nashville and Davidson County, Tennessee:

Section 1. The Metropolitan Council hereby goes on record as recognizing the selection of the Nashville Housing Fund (partnering with Affordable Housing Resources) as program administrator for the Homeownership for Metro Employees (HoME) program for fiscal year 2000-2001. A copy of the contract between the Metropolitan Government and the Nashville Housing Fund is attached hereto for review by the Metropolitan Council.

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

Sponsored by: Howard Gentry, Chris Ferrell, Janis Sontany & Tony Derryberry

LEGISLATIVE HISTORY
Referred to:	Budget & Finance Committee
Introduced:	November 21, 2000
Adopted:	November 21, 2000
Approved:	November 27, 2000
By: