One of two closed former Tennessee Temple University dormitories is seen near the campus in
Highland Park.Chattanooga Neighborhood Enterprise, though stung by the loss of $200,000 in city funding, is set to reclaim its role as a provider of low-cost rental housing with the ultimate goal of improving living conditions for 2,000 Scenic City families by 2017.
Officials are pushing the nonprofit, created by U.S. Sen. Bob Corker in 1986 to promote affordable housing, to fund more of its own operations by making loans, securing grants, building homes and creating rental housing, rather than depending on shrinking funding from the city.
“I think you’ll find our vision and direction that we’re going as an organization is pretty ambitious, and we’re excited about it,” said John Bridger, chairman of CNE’s board.
Chattanooga taxpayers will give CNE $705,000 for fiscal year 2015, down from $900,000 in fiscal year 2014 and $1,087,275 in fiscal year 2013. That’s due in part to shifting priorities, and also stems from officials’ desire to move some affordable housing functions under the control of City Hall, said City Councilman Moses Freeman.
“There are some things that the city has wanted to do in house, some infill housing and some housing renovations for low-income housing, and that took some money,” Freeman said. “So it’s an expanded role for the city, and the money has to come from somewhere.”