Housing Trust Fund Commission approves package of Barnes Fund contract amendments and extensions

The Metropolitan Housing Trust Fund Commission voted April 28 to approve a package of grant contract amendments and timeline extensions intended to keep multiple affordable-housing projects moving toward completion.

Director Hubbard told commissioners the items before the board included a requested draw-schedule change for Be a Helping Hand Foundation, contract extensions for several Round 13 projects, and scope adjustments for ARPA-designated awards so remaining ARPA balances can be reallocated and considered spent. On the Be a Helping Hand amendment, Hubbard said staff received a lender letter showing the project must pay off a land loan to close construction financing and recommended approval of the amendment allowing grant funds to be used for that purpose.

The board approved the Be a Helping Hand amendment and then approved a series of contract extensions and scope-change requests. Hubbard described one recurring issue: two tranches of American Rescue Plan Act funding were originally parceled to specific project types with Treasury completion deadlines. "Metro Finance would like to have all of these ARPA funds spent actually by June 30 of this year," Hubbard said, while noting the federal Treasury deadline remains Dec. 31, 2026 and that staff will not push contract end-dates past that date.

Pathway Lending’s Round 13 project — a 62-unit Barnes Fund development at 2920 Hamilton Church Road — has drawn roughly $1.6 million and requested a 12-month extension after a utility-related delay, Hubbard said; the commission approved the extension. Springboard Landings, which drew in rounds 13 and 15 and is now in permitting with engineering and final site plan work underway, received a 12-month extension to complete construction. The commission also approved a contract extension and ARPA-language removal for a set of five Housing Fund homeownership/shared-equity projects on community land trust parcels; staff said those projects are expected to finish well before the Treasury deadline.

Urban League of Middle Tennessee items were handled in two votes: a non-ARPA amendment to extend a Round 11 contract for 116 Barnes Fund units at Joseph Avenue (staff noted a street-number inconsistency that will be corrected in the record), and a separate amendment that removes ARPA references without changing scope; both motions passed.

Where motions were moved and seconded on the record, the chair called the votes and announced each motion carried; no roll-call tallies were read into the public minutes during the meeting. Several commissioners asked staff clarifying questions about fund balances, deobligations and how expired versus deobligated contracts are returned to the fund balance; Hubbard said deep reconciliations and past administrative costs explain some of the differences in previously reported unobligated balances.

The commission’s approved amendments and extensions are procedural steps intended to preserve financing and ensure projects remain eligible to draw funds and reach occupancy within deadlines; staff said projects are generally on track to meet completion requirements and staff will continue to work with grantees to finalize milestones and draws.