Votes postponed
The City Council postponed scheduled votes concerning the sale of beer in movie theaters and new rules governing short-term vacation rentals until Oct. 25.
Chattanooga City Councilman Chris Anderson
Ken Smith.The City Council has approved an affordable housing tax break for Chestnut Flats, a $20 million apartment project on Chattanooga’s Southside.
The 174-unit building makes the first proposal to take advantage of the city’s new payment-in-lieu-of-taxes (PILOT) incentive program. Any developer applying for the program must make at least half of their units affordable to renters who earn less than 80 percent of the area’s median income.
The Chestnut Flats plan exceeds the PILOT program’s affordability thresholds by restricting all units to households earning no more than 60 percent of area median income. Rents range between $600 and $750 a month for the units. The development will offer a mix of one- and two-bedroom apartments.
On Tuesday, the council voted 6-2 in favor of the PILOT, with council members Chip Henderson and Ken Smith casting “no” votes. Councilman Larry Grohn did not attend the meeting.