In a recent government meeting, officials outlined significant funding initiatives aimed at enhancing affordable housing in the community. The discussion centered on the allocation of $2.1 million to support the development of nine new single-family homes, with a focus on the Jones McDonald neighborhood and the Waverly, Martin Luther King development area. This funding is part of the HOME Investment Partnership program, which aims to provide gap funding for housing projects.

The officials confirmed that the allocated funds would complete the construction of all nine homes under the TN project, while the \"Homeless No More\" initiative is still in the process of securing additional funding to finalize its project. A letter of commitment from the city has been provided, but further confirmation from lenders is required before moving forward with underwriting and fund release from HUD.

Additionally, the meeting highlighted two other ongoing projects: the Midtown Bull Street development, which is already under construction and has a total development cost of $22 million, with the city contributing $500,000, and the Stoneridge Senior project, which is currently undergoing underwriting. The city has also allocated $500,000 to assist with the Stoneridge project, pending final approval of its Low-Income Housing Tax Credit (LIHTC) application.

Officials emphasized the importance of these initiatives in addressing the community's housing needs and reiterated their commitment to supporting affordable housing development through both general and HOME program funds. The meeting concluded with a focus on the targeted communities that will benefit from these projects, underscoring the city's ongoing efforts to improve housing accessibility and quality for its residents.