Establishes a pilot program to provide affordable housing for essential services personnel in Tennessee.
The bill establishes the community workforce housing innovation pilot program to provide affordable rental and homeownership housing for essential services personnel. The program, administered by the agency, offers loans for construction or rehabilitation of workforce housing. Eligible projects must demonstrate the use of regulatory incentives, possess title to land, show development experience, and involve public-private partnerships. Priority is given to projects in areas with the greatest housing cost disparity and population growth.
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