Living Development Concepts Awarded Barnes Funding to Provide Affordable Homeowner Project in Nashville
These awarded funds will help us build a single-family home while providing quality affordable housing in a safe community. This large, tranquil lot is the future site of our upcoming new project. Thanks to Mayor Cooper and The Barnes Fund, we are able to make this dream a reality. As we put our clients and neighbors first, our motto is: “As we help our neighbors, we will grow”.
Check out Mayor Cooper’s press release:
Mayor Cooper Announces Approval of Most Recent Barnes Fund Grant Recipients
Chris Song, 12/3/2019
Mayor Cooper today announced that the Metro Housing Trust Fund Commission has approved recommendations from the Barnes Application Review Committee for a new round of grants to support the development and rehabilitation of 549 affordable housing units in Nashville. In response to fiscal pressures highlighted by the state comptroller, the Mayor’s Office has awarded a partial round of $5 million in Barnes Fund grants.
Mayor Cooper is hopeful that with potential budget savings and efficiencies, Metro can back an additional round of awards in the spring of 2020 using excess fund balance for this fiscal year. Taking current budget pressures into account, a primary objective of the Mayor’s Office is to avoid widespread personnel changes and interruption of vital city services.
“Even with our current budget difficulties, we are pleased to announce that the Barnes Fund will make grant awards due to their critical importance to housing affordability in our city” , said Mayor Cooper. “The Barnes Fund is a critical part of making sure that affordable housing is at the center of everything we do in Nashville. Providing housing stability for our children, taking stress off our local workforce, and creating opportunities for seniors to remain in their communities are all goals that help achieve a stronger Nashville for all of us”.
Under the Barnes Housing Fund requirements, eligible projects must create or preserve affordable housing opportunities in Nashville-Davidson County, Tennessee. Projects must be affordable to households with incomes at or below 60% area median income for rental projects and at or below 80% of the area median income adjusted for family size for homebuyer projects.
Organizations that will receive funds include: Our Place, Affordable Housing Resources, Habitat for Humanity Nashville, Woodbine, Westminster, Be a Helping Hand, and Living Development Concepts, Inc.
Since inception, The Barnes Fund has invested $37 million in affordable housing development and rehabilitation and has leveraged over $186 million of federal and private funding to construct more than 1,700 housing units.
Grant Awarded to Living Development Concepts (LDC)
The office of Mayor John Cooper is making $10 million available to help residents of Davidson County in need of assistance with rent, mortgage, or utility payments. United Way of Greater Nashville will serve as the administrator of those funds.
Grants Awarded to Living Development Concepts (LDC) by the Metro Nashville Special Fund & Metro Nashville Cares Act Fund administered by United Way of Greater Nashville. (September 2020-January 2021)
These grant funds were used to help with rent, mortgage and utility assistance for those that was affected by the COVID-19 pandemic. LDC was able to assist over 58 households’ members for a total of over $157,000 of our grant funding and organization funding.
For Metro Govt. Special Funding Grants: COVID-19 Response Fund | United Way of Greater Nashville — COVID-19 Response Fund | United Way of Greater Nashville (nashvilleresponsefund.com)