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Committee advances $10 million THDA grant program to incentivize affordable housing
Summary
The Government Operations Committee voted to advance HB2509, which would allocate $10 million to the Tennessee Housing Development Agency (THDA) to distribute grants regionally to incentivize affordable housing. Sponsors said the program targets households at 80%–150% of median income; members pressed on definitions and eligibility.
The Government Operations Committee voted to advance HB2509, a proposal to give $10,000,000 to the Tennessee Housing Development Agency to fund grants aimed at incentivizing affordable housing across the state. Representative Faison, the bill sponsor, said the awards would be distributed "equally among the 3 sides of Tennessee" and that the program is intended to create a sustainable revolving fund as developers repay loans.
Members asked several substantive questions about eligibility. Representative Fritz expressed concern that the bill's definition of "essential services personnel" could exclude carpenters and electricians; she told the committee she would "not be able to vote for this bill" if the language effectively excluded workers who should qualify. Representative Faison responded that the bill lists examples rather than strict limits and that the program targets households between "80%–150% of the median income." The sponsor added the funds could be structured as low- or no-interest loans to developers and that those loans would be repaid to maintain the fund.
The committee cleared HB2509 to the Finance, Ways and Means calendar. Clerk Mr. Clark announced the roll call: the motion passed with 11 ayes, 1 nay and 1 present not voting. The bill’s next stop is the Finance, Ways and Means Committee.
