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An ordinance amending Chapter 2.136 of the Metropolitan Code to require the Planning Department to provide periodic reports regarding the Metropolitan Government's efforts to address the issue of housing affordability in Nashville and Davidson County.
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WHEREAS, according to the 2020 Metropolitan Social Services Commission Community Needs Evaluation, the poverty rate in Metropolitan Nashville Davidson County is 12.4%; and
WHEREAS, approximately 2,000 persons are experiencing homelessness in Metropolitan Nashville Davidson County at any given time according to the 2020 Point in Time Count; and
WHEREAS, 2019 American Community Survey data, in conjunction with other data analysis, found over 65,000 renter households in Nashville-Davidson County pay more than 30% of their household income for housing and are housing cost burdened; and
WHEREAS, the local economy continues to grow and expand rapidly, but housing costs continue to be a major barrier to economic progress for many in Nashville; and
WHEREAS, monthly median gross rent for apartments in Nashville has risen 56% from 2010 to 2019 while median household income has increased only 46.5% and vacancy rates have increased 3 percentage points at the same time; and
WHEREAS, the Housing First policy has been shown to provide a path out of homelessness and dependency for many individuals, but there is an inadequate supply of housing to meet the demand at the lowest income levels; and
WHEREAS, increasing the supply of modestly priced housing supports economic growth and is an important tool in reducing poverty, maintaining a local workforce in Davidson County, and remaining competitive in a regional market; and
WHEREAS, for local economies, housing that is affordable can help create jobs, attract new employers and a skilled workforce, and lower the risks of delinquency and foreclosure, which reduces costs to local governments; and housing can be a source of economic stability for individuals and fam...
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