A resolution requesting the Metropolitan Development and Housing Agency to analyze the expansion of the Payment in Lieu of Taxes (PILOT) program for affordable, rental housing development and to recommend the appropriate structure and geographic boundaries of such a program.

Whereas, the need for affordable rental opportunities continues to increase in the Metropolitan Area and is considered to be an integral component of the overall revitalization and continued stimulation of the Nashville economy, and

Whereas, the Metropolitan Government recognizes that in order to balance affordable housing and create vibrant neighborhoods a mix of rental and homeownership opportunities needs to be made available to the residents of Nashville, and

Whereas, the Nashville Consolidated Plan calls for an increase in the supply of housing affordable for all incomes in the interest of promoting the well-being of families and children as well as the economic social health of the region; and

Whereas, the stakeholders present at the Affordable Housing Summit in 1999 established a goal of creating 25,000 new affordable rental housing opportunities by 2010; and,

Whereas, the Metropolitan Government promotes healthy, stable, mixed income, racially integrated neighborhoods through policies and programs that address fundamental needs for a variety of housing and economic opportunities.

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

SECTION 1. That the Metropolitan County Council hereby goes on record as requesting the Metropolitan Development and Housing Agency to analyze the expansion of the Payment in Lieu of Taxes (PILOT) program for affordable, rental housing development and to recommend the appropriate structure and geographic boundaries of such a program.

SECTION 2. The Council requests the Metropolitan Development and Housing Agency to complete this study and provide it to the Metropolitan Council and the Director of Finance not later than June 30, 2005.

SECTION 4. That the Metropolitan Clerk is directed to send a certified copy of this Resolution to the Mayor and the Executive Director of the Metropolitan Development and Housing Agency.

SECTION 5. That 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: Jamie Isabel, Brenda Gilmore