Whereas, LISC is recognized as a national leader in the financing, development; and operation of local community development corporations; and

Whereas, LISC, as a condition to receiving these funds, will open a Nashville office and work on local affordable housing and economic development projects in the inner city; and

Whereas, Nashville has a number of local community development corporations specializing in the community and economic revitalization of inner city neighborhoods, which can benefit from the financial and technical expertise offered by LISC.

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

Section 1. That $100,000 in Metropolitan Council Reserve funds are hereby appropriated to support the establishment of a local office in Nashville by the Local Initiatives Support Corporation (LISC), a national non-profit intermediary working with local community development corporations on the financing of affordable housing and economic development projects when their local office is established.

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

Sponsored By: Chris Ferrell, Howard Gentry

LEGISLATIVE HISTORY
Referred to:	Budget & Finance Committee Personnel Committee
Introduced:	November 20, 2001
Deferred:	November 20, 2001
Adopted:	December 4, 2001
Approved:	December 5, 2001
By: