Barnes Housing Trust Fund
In 2013, Mayor Karl Dean and the Metro Council created Metro Nashville's first housing trust fund to leverage affordable housing developments countywide. Named after Reverend Bill Barnes, a longstanding advocate for affordable housing and the deconcentration of poverty, the Barnes Fund makes competitive grants to nonprofit housing developers to increase affordable housing options for Nashvillians. Grants include funding for renovation or construction of affordable homeownership and rental opportunities and other supportive efforts to encourage affordability.
In July 2016, Mayor Megan Barry committed to an annual investment of $10M—the largest investment to date. In 2018 Mayor Briley has continued this annual investment. Since inception, the Barnes Fund has invested more than $27M in affordable housing development and rehabilitation and has leveraged over $127M of federal and private funding to construct more than 1300 housing units.
Download a one pager about the Barnes Fund
Below is a list of organizations that have received funding from the Barnes Fund:
Eligible projects must create or preserve affordable housing opportunities in Nashville and Davidson County. Rental projects must be affordable to households with incomes at or below 60% of the median family income adjusted for family size. Home buyer/home owner rehabilitation projects must be affordable to households with incomes at or below 80% of the median family income adjusted for family size.
How to Apply
Applications will open in the Spring of 2019 for the next competitive round.
Metro-Owned Properties for Donation
In addition to awarding funds to nonprofit developers, The Barnes Fund donates Metro-owned property to nonprofit applicants. In order to apply for Metro-owned properties, developers must also apply for financial support and it must be during a competitive funding round. Properties that will be offered with the Spring 2019 round are going through due diligence and the list will be available by January 1, 2019.
The Barnes Fund and Community Land Trust
In 2017, the Metropolitan Housing Trust Fund Commission approved the creation of Nashville’s first Community Land Trust (CLT) and selected The Housing Fund as its partner to develop and steward this model. This CLT will be the first city-wide entity to provide permanently affordable homeownership opportunities to better meet the needs of working families in Nashville. The goal of the CLT is to protect local residents from displacement by ensuring working families can afford to live in their community and keep homes in their community affordable for generations to come. Along with seed funding to launch the Community Land Trust, Metro is in the process of donating 14 properties.
Metropolitan Housing Trust Fund Commission
The Metropolitan Housing Trust Fund Commission governs the Barnes Fund to fund and assist in providing good quality affordable housing. The Commission meets every 4th Tuesday of the month at the Sonny West Conference Center.