NASHVILLE, Tenn. (OSBORNE) -- Mayor David Briley has launched a new $750 million affordable housing initiative for Nashville with great fanfare, but some City Council members expressing reservations about the plan.
Briley is calling his proposal “Under One Roof 2029,” a decade-long effort to increase housing for low-income residents. The mayor began by his remarks last week by acknowledging that many Nashvillians can no longer afford to live in the city where they work.
Briley’s executive order would dedicate $350 million taxpayer dollars to the Metropolitan Development and Housing Authority. It would also see the city dedicate another $150 million to the Barnes Fund, a grant making trust created in 2013 to build affordable housing in Metro.
Third and finally, Briley is asking Nashville’s private sector to provide an additional $250 million over the next ten years to support affordable housing efforts.
“That community is ready, willing and able to make those kinds of investments. They just needed the right kind of vehicle, and the right way to engage.”
Metro Councilman at Large John Cooper is skeptical, calling Briley’s initiative a feel good effort with few specific details. Cooper has especially strong reservations about private sector Bu y in.
“There’s just no offer, no letter, no anything. I mean actually officials in the government laugh when you ask ‘What is behind the numbers?’ to tell you the truth about that.”
Council Bob Mendes also expressing reservations about “Under One Roof 2029,” telling WMOT it’s “important the city secure revenue, before deciding how to spend it.”
You can watch Mayor Briley’s complete presentation using the link in this story at WMOT.org.