After input from North Nashville residents, councilmembers are asking the city’s COVID-19 financial oversight committee to funnel $70 million toward minority businesses.
The local committee’s role is to collect, consider and recommend how the city should use federal relief money. So far, they’ve spent it on a variety of city needs including rent relief and cleaning up Brookmeade Park.
Councilmember Kyonztè Toombs says she heard North Nashville residents’ concerns at a meeting about a proposed land cap on Jefferson Street. She wanted to make sure the city didn’t miss out on supporting minority businesses.
“There was a lot of comments about investment that the community actually wants to see on Jefferson Street,” she says. “They wanted to lead the conversation and determine how money would be spent.”
Toombs’ recommendation calls for $50 million to be used over two years for economic development of Jefferson Street and the larger Bordeaux and North Nashville communities. She wants residents to decide how to spend this money through the city’s participatory budgeting process.
This all comes as the Jefferson Street Sound museum is financially struggling to stay open.
An additional $20 million is recommended to support local economic development by maintaining small business operations and creating or maintaining employment in the city.
Councilmembers Sharon Hurt and Brandon Taylor have signed on in support.
The Metro council will vote Tuesday on the recommendation. If approved, the financial oversight committee will consider the idea.
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