GUIDELINESThe city’s affordable housing initiative is aimed at families with household incomes of 60 percent of the city’s median family income of $58,000. By comparison, the Chattanooga Housing Authority issues Housing Choice vouchers to households at 50 percent of the median.Family size/ Income for city’s initiative/ Income for Housing Choice vouchers• One person/ $24,360/ $20,300• Two people/ $27,840/ $23,200• Family of 3/ $31,320/ $26,100Source: City of Chattanooga
This week Chattanooga will hold a lottery for more than 20 developers with experience in building affordable rental housing using federal dollars to advance Mayor Andy Berke’s housing program.
From the lottery draw, those developers will pick from 21 city-owned lots that are either vacant or have dilapidated homes on them.
The developers will then each have about six months to build a home to rent to residents who fall within the guidelines for low-income housing. For example, a family of three with a household income of $31,320 would qualify.
Midway through the year, city officials had to shift gears.