Mayor David Briley Executive Order Number 007

THE METROPOLITAN GOVERNMENT OF NASHVILLE AND DAVIDSON COUNTY

David Briley, Mayor

Subject: “Under One Roof 2029” Affordable Housing Initiative

I, David Briley, Mayor of the Metropolitan Government of Nashville and Davidson County, by virtue of the power and authority vested in me, do hereby find, direct and order the following:

1. The Metropolitan Government has an interest in preserving and increasing Nashville’s stock of affordable and workforce housing in order to ensure the city’s continued viability.
2. The Metropolitan Government should work with partners, including the Metropolitan Development and Housing Agency (“MDHA”) and private investors, to increase the affordable/workforce housing supply in Nashville while at the same time deconcentrating poverty.
3. MDHA and the Metropolitan Government have collaborated on the Envision Cayce project, and it is appropriate that the parties further collaborate on future Envision projects, including Envision Napier and Sudekum and Envision Edgehill, which are currently underway, and the future Envision Cumberland View, Envision Cheatham Place, and Envision Andrew Jackson as well as additional opportunities to add to the affordable housing stock in the city through mixed-income developments (together hereinafter referred to as “the Envision Projects”).
4. The Metropolitan Government has prioritized an annual allocation to the Barnes Fund in order to support affordable/workforce housing by partnering with nonprofit agencies to develop diverse and accessible housing options throughout the city.
5. To that end, it is fitting and proper that a new initiative named “Under One Roof 2029” be established with the goal of providing an investment of $750 million over the next ten years in affordable housing across the city, with $500 million of that investment to come from the Metropolitan Government and $250 million from the private sector.

1. Establishment of Initiative
   1. There is hereby established the Under One Roof 2029 Initiative (the “Initiative”).
   2. It is the intent of the Initiative, subject to appropriation by the Metropolitan Council, to provide the following funding and programming:
      1. $350 million investment of Metropolitan Government general obligation bond funds over the next ten Fiscal Years in support of the Envision Projects, which are projected to add more than 5,000 additional units on MDHA properties using a variety of funding sources. This includes adding approximately 1,000 new deeply affordable units utilizing Metro Funding, which would facilitate the construction of another 2,500 deeply affordable, workforce and market-rate housing units in these mixed-income developments.
      2. $150 million investment of Metropolitan Government general funds over the next ten Fiscal Years in the Barnes Fund, representing a 50% annual increase in funding for the Barnes Fund, which is projected to help fund the creation of at least another 5,000 affordable housing units.
      3. Work to attract and support private and non-profit entities investing another $250 million in affordable and workforce housing projects in Davidson County over the next ten years.
2. Request to MDHA
   1. MDHA is requested to negotiate a Memorandum of Agreement with the Metropolitan Government to facilitate implementation of the Initiative.
   2. MDHA is further requested to establish a new position of Chief Strategy Officer. The MDHA Chief Strategy Officer would be responsible for developing, communicating and reviewing the goals and milestones as set forth in this Executive Order and other agreements and resolutions pertaining to the Initiative and the Envision Projects. The Chief Strategy Officer would also be responsible for monitoring and ensuring the continued success of the collaboration between MDHA and the Metropolitan Government.
3. Request to MDHA and the Metropolitan Housing Trust Fund Commission

In the interest of full transparency, MDHA and the Metropolitan Housing Trust Fund Commission are asked to report annually to the Mayor and the Metropolitan Council on progress by MDHA and the Barnes Fund, respectively, in building, preserving and increasing access to affordable housing.

ORDERED, EFFECTIVE AND ISSUED:

David Briley
Metropolitan County Mayor

Date: March 26, 2019