RESOLUTION NO. RS2009-700

A resolution appropriating certain 2009-2010 Housing and Community Development funds and 2008-2009 Amendment to utilize Neighborhood Stabilization Program funds.

WHEREAS, Ordinance No. BL 2008- 338 specified programs to utilize the 2009-2010 Housing and Community Development Block Grant (CDBG Funds) and 2008-2009 Amendment for Neighborhood Stabilization Program (NSP Funds); and

WHEREAS, certain activities are, or soon will be ready to begin expenditures of the allocated funds;

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

Section 1. The Metropolitan Development and Housing Agency is authorized to expend and/or transfer to be expended 2009-2010 CDBG as specified in the above Ordinance for the following purposes and amounts:

2009-2010
Administration $534,690
Acquisition $300,000
Economic Development $400,000
Rehabilitation Program $1,059,260
Planning $434,690
Affordable Housing $175,000
Special Neighborhood Activities $430,000
Section 108 Loan $445,000
Total $3,778,640

Remaining CDBG funds will be appropriated by resolution as plans are completed and filed.

Section 2. The Metropolitan Development and Housing Agency is authorized to expend and/or transfer to be expended 2008-2009 Neighborhood Stabilization Program funds as specified in the above Ordinance for the following purposes and amounts:

2008-2009
NSP Program- Homeownership $2,633,409
NSP Program – Rental $1,012,850
NSP Administration $405,139
Total $4,051,698

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

Sponsored by: Erica Gilmore, Erik Cole

LEGISLATIVE HISTORY
Referred to:	Federal Grants Review Committee
Introduced:	April 21, 2009
Adopted:	April 21, 2009
Approved:	April 23, 2009
By: