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Mandatory inclusionary housing
avg 60% AMI
planning_commission 2026-05-13 · Wednesday, May 13, 2026 · 45m
The one where Metro Housing pitched a $45.7M budget and floated a first-of-its-kind subordinate debt fund, and Metro Fin
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Nashville's Metro Housing Division brought its FY27 budget with a $45.7M Unified Housing Strategy ask, headlined by $22M for the proven Barnes Fund (claimed 8:1 leverage, 6,500+ units to date) and a brand-new idea: a subordinate debt fund that could someday back a bond issuance for permanent affordability. Council leaned in, Spain probed the mechanics, Cortese pressed on MDHA's staffing and whether Metro would take an equity stake, and Parker urged the team to move faster for developers. Metro Finance director Reed repeatedly hit the brakes on the framing: no bond exists yet, no equity is plan
From the room
“how long that takes to sort of to stand up this program once the budget goes into effect”
— Spain
“use a public housing authority to create a subsidiary because of their powers under state law”
— Angie Hubbrough
“It would be a subordinate debt product, and then eventually, the money will come back”
— Director Reed
“We're looking to bring the contract to counsel in the, coming hopefully, by next month”
— Angie Hubbrough
Also in the record
02
The people
Practitioners & applicants
Jenneen Reed (dispatch) / Janine Reed (corpus canonical) · Burkley Allen
03
The intelligence
Every parcel, owner, and applicant in this meeting, cross-referenced against Zonable’s NYC ownership, enforcement & legislative graph — the record behind the record.
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Owner portfolios, open OATH/ECB violations, 311 & DOB permits across every parcel discussed, developer track records, and an “ask this meeting” chat.
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