About
The Chattanooga Land Bank is working with the City of Chattanooga to transform vacant properties owned by the City into affordable housing. This initiative addresses the 2023 Chattanooga Housing Action Plan recommendation for the City of Chattanooga to develop a new public land disposition policy and process that prioritizes the creation of affordable housing and returns parcels in tax foreclosure to the market as homes. The objectives for this initiative include:
- Create new for-sale units affordable to households earning at or below 100% of Chattanooga’s Area Median Income (AMI) and create new rental units affordable to households earning at or below 80% AMI
- Repurpose vacant, abandoned, and foreclosed properties to reduce blight and revitalize neighborhoods in Chattanooga’s urban core
- Preserve affordability in neighborhoods that are seeing or poised to see significant investment in the future
- Develop strategic partnerships with nonprofits, community organizations, lenders, and local developers to build the housing ecosystem in Chattanooga
How to Apply
The Land Bank will periodically release properties for development through a Request for Proposals process. Proposals must comply with all requirements outlined in the RFP, including affordability requirements. Applicants will be evaluated based on their development experience and capacity, the feasibility of the proposed project, and the project design. More information about specific requirements can be found in the RFP.
Applicants must be in good standing with the Chattanooga Land Bank Authority and the City of Chattanooga, with no outstanding property taxes, code violations, or municipal liens. Applicants may not be in breach of any development agreement with the Chattanooga Land Bank Authority or City of Chattanooga. Employees of the City of Chattanooga and their immediate family members (including their spouse, parents, stepparents, in-laws, grandparents, siblings, children, or stepchildren) are not eligible to receive properties.
You must be registered as a vendor with the City of Chattanooga in order to apply to develop a property. Visit our Supplier Portal for information about how to apply.
Affordability Requirements
All properties donated by the Chattanooga Land Bank Authority must meet affordability requirements after development. Selected developers will sign a developer agreement and deed restrictions. Requirements include:
- For-sale units must be affordable to households earning 100% of the area median income or less. For-sale units cannot be sold for more than $200,000.
- Rental units must be affordable to households earning 80% of the area median income or less.
- Rental units must remain affordable for a minimum of ten years, and for-sale units must remain affordable for a minimum of fifteen years.
- Projects must begin construction within 12 months of conveyance.
More detailed information about requirements is included in the RFPs.
Current Opportunities
Starting November 3rd, the CLBA plans to issue three Requests for Proposals for the development of seven properties Visit our Bids and Solicitation page to see the RFPs.
See below for important dates related to this round of RFPs.
Date | Event |
---|---|
November 3rd, 2024 | RFP Issued |
November 13th, 2024, 2:30pm-3:30pm EST | Optional Pre-Submission Workshop |
November 18th, 2024, 4:00pm EST | Deadline for Questions From Applicants |
November 26th, 2024 | Addendum for Questions Published |
January 15th, 2025, 4:00pm EST | Deadline for Proposal Submissions |
Chattanooga Land Bank Authority Properties
Parcel ID | Address | Conveyed On | Status |
---|---|---|---|
137A L 020 | 2602 KOBLENTZ CIR, Chattanooga, TN, 37406 | 10/17/2024 | Open RFP |
137A M 021 | 2508 TAYLOR ST, Chattanooga, TN, 37406 | 10/17/2024 | Open RFP |
155N F 016 | 3809 ALTON PARK BLVD, Chattanooga, TN, 37410 | 10/17/2024 | Open RFP |
155N F 024 | 3816 WEST AVE, Chattanooga, TN, 37410 | 10/17/2024 | Open RFP |
155N F 025 | 3817 WEST AVE, Chattanooga, TN, 37410 | 10/17/2024 | Open RFP |
155N F 026 | 901 W 39TH ST, Chattanooga, TN, 37410 | 10/17/2024 | Open RFP |
167C H 034 | 4520 OAKLAND AVE, Chattanooga, TN, 37410 | 10/17/2024 | Open RFP |
Learn More
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FAQ
What is a land bank?
Land banks are not banks! They are public entities created for a single purpose: to acquire, manage, maintain, and repurpose vacant, abandoned, and foreclosed properties. State law grants land banks some unique powers to facilitate the redevelopment of these types of properties, which often sit unused and vacant for years due to legal problems like cloudy titles. Land banks are not the same as community land trusts (CLTs), although they can often work together.
How do land banks work?
Land banks can acquire vacant, tax-delinquent properties that have been passed over by the private market, hold them tax exempt, remove the structural, legal, and financial barriers to redevelopment, and then work closely with a range of public, nonprofit, and private partners to flexibly dispose of them in support of local and community goals.