The City of Chattanooga is partnering with the Chattanooga Land Bank Authority to donate seven vacant city-owned properties to develop new affordable homeownership and rental housing.
Mayor Tim Kelly has led the process to restructure the Chattanooga Land Bank Authority to allow qualifying, city-owned land to be put back into productive use for affordable housing.
“We’re committed to using every tool available to us to fight the national affordable housing crisis, and this donation of city-owned land for affordable housing developments is an important step,” Kelly says. “With the support of our partners in the philanthropic and development communities, Chattanooga can lead the country in the fight for affordable housing.”
The Chattanooga Land Bank Authority has released seven properties to be developed for affordable housing. The land bank will continue to release properties periodically through an open request for proposals (RFPs) process.
The city is inviting developers to submit community-focused proposals that meet affordability standards. Projects must be affordable to renters earning up to 80% of the area’s median income (about $56,000 for a two-person household) or first-time homebuyers earning up to 100% of the area’s median income (around $70,000).
Affordability periods will be enforced for at least 10 years for rentals. Home prices must be capped at $200,000 and must remain affordable for 15 years. Submissions will be evaluated based on development experience, project feasibility and design.
The application deadline is Jan. 15.
To participate, developers must register with the city of Chattanooga and meet the eligibility requirements. Visit the city’s Supplier Portal (chattanooga.gov/business/supplier-portal) to register and review the RFPs.
The city has identified 50 additional sites for future affordable housing development through the land bank and is working to clear titles and overcome barriers to development for future transfers.
Land Banks are public agencies designed to acquire, manage and repurpose vacant and underutilized properties. Land Banks have unique powers under state law that enable them to remove legal and regulatory barriers, clear cloudy titles and collaborate with partners to meet local housing goals.
Historical Commission awards preservation grants
The Tennessee Historical Commission recently announced the awarding of 23 matching grants totaling $2 million from the Historic Property and Land Acquisition Fund program.
This year’s grants will help to fund a variety of historic and architectural projects, including $150,000 for the structural restoration of the Brown’s Ferry Tavern in Hamilton County.
These grants, which come from real estate transfer tax growth funds that have been allocated to the commission, will be used to fund historic restoration and rehabilitation projects for National Register-listed properties in Tennessee.
“This new state grant program is an important component of our mission to revitalize historic places across Tennessee,” says Patrick McIntyre, state historic preservation officer and executive director of the Tennessee Historical Commission. “From historic courthouses to museums, this program will help a variety of time-honored landmarks that make our communities unique.”
The grant program requires a 10% match of project funds from the grantee and is for properties listed in the National Register of Historic Places that also have a public engagement component such as museums, courthouses and libraries.
CSCC accepting alumni nominations
Chattanooga State Community College has launched its first-ever Outstanding Alumni Awards, an initiative designed to honor alumni who have made significant professional achievements, demonstrated leadership and contributed to their communities.
Nominations for the awards will be open through Dec. 1. Eligible nominees must be graduates holding a degree, diploma or certificate from Chattanooga State, including TCAT.
The awards will be presented during Chattanooga State’s Alumni Reception and Homecoming celebration Jan. 29.
Nominate a graduate at chattstate.cc/4fkGwQM.
City reallocates unspent funds on road projects
The city of Chattanooga has identified $2 million in unspent bond proceeds and is investing the funds in road projects.
The funds will be used on the following projects:
• Paving Oak Street from Glenwood Drive to Shallowford Road
• Paving Shallowford Road from McCallie Avenue to North Crest Road
• Paving Wilcox Boulevard from Greenwood Avenue to Shallowford Road
• Paving North Concord Road and Hamilton Place Boulevard from Igou Gap Road to the current TDOT project
• Paving Hickory Valley Road from Discovery Drive to Highway 58
• Frazier Avenue repaving, lane painting, curb changes and pedestrian area dividers
These are dollars that city government borrowed years ago to do public infrastructure projects, and the funds have been overlooked and sitting unused,” says Mayor Tim Kelly. “Our public works team will now be able to put them to work to make significant upgrades to city roads.”
Chattanooga issued the general obligation bonds from which these funds were pulled in 2013 and 2019 for road projects.