Chattanooga board approves $1.5M transfer for economic development projects

The Chattanooga City Industrial Development Board convened on June 2, 2025, to discuss significant developments in local housing and economic initiatives. A primary focus of the meeting was the implementation of a new hub aimed at providing income and employment services tailored for the West Side neighborhood, which has an average income of under $15,000 per year. The hub is part of a broader effort to support families in the area, with plans to introduce 1,783 new mixed-income housing units over the next decade.

Urban Strategies, Inc. has been contracted to assist with this initiative, dedicating $10 million to the project over eight years. Their team has already begun engaging with residents, conducting surveys, and connecting them with job opportunities. Board members expressed optimism about the hub's potential to transform lives by addressing various community needs.

Additionally, the board discussed a resolution to transfer $1.5 million from the Industrial Development Board's pilots fund to a new account designated for catalytic economic development projects in disinvested communities. This transfer is intended to facilitate the rehabilitation of blighted properties and support economic growth in the area.

The meeting also touched on procedural matters regarding the funding of accounts for future projects, with suggestions for a more structured approach to financial planning in upcoming fiscal years. Board members acknowledged the need for a discussion on how to manage these funds effectively moving forward.

Overall, the meeting underscored the board's commitment to enhancing economic opportunities and living conditions for residents in Chattanooga's West Side, marking a significant step towards revitalizing the community.