The following is a statement from Mayor John Cooper following Metro Council approving $30 from the American Rescue Plan and $20 million from the Barnes Fund to create affordable housing units:
“Getting housing right is essential. Nashvillians must be able to afford to live, work and raise a family here, and we are addressing the urgent need to create and preserve affordable housing units head on. I am grateful that Council approved $30 million of federal dollars to help bolster that effort, as well as an additional $20 million from the Barnes Fund that will create 762 new affordable units. Since taking office, Metro has increased our investment in affordable housing by more than five times, and added new tools to accelerate new units coming online – like the Mixed Income PILOT that will deliver over 420 units in its first year of funding. Just recently, Council also approved using the Convention Center’s $14.3 million payment in lieu of taxes as a primary source of funding for the Barnes Fund, which makes good on the long-standing community request for dedicated revenue for affordable housing. There’s much more work to be done, and I appreciate Council Members’ passion and commitment to this critical issue facing residents.”