State Sen. Todd Gardenhire is optimistic his colleagues in the Tennessee General Assembly will pass a bill designed to encourage developers to invest in affordable housing.
“I haven’t had any opposition to it that I’ve heard of,” the Chattanooga Republican said in a phone call. “Most people understand … what we’re trying to do, and there’s no financial cost to the state or local municipalities.”
Senate Bill 2496, which has backing from Chattanooga Mayor Tim Kelly, would allow local government to provide density bonuses to builders in exchange for voluntarily reserving a certain number of units as affordable.
Specifically, developers could opt to build more housing than would normally be permitted on a piece of land, the mayor’s office said in a news release. Local governments could also choose to require fewer parking spaces, the city said, or reduce setbacks, offering more room to fit homes on a piece of land or complete a project on an irregularly shaped property.