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Buffalo Valley, City, THDA cut ribbon on three new affordable homes
U.S. military veterans to get first priority in rental applications
Posted Date: 8/13/2018

CLARKSVILLE, Tenn. – Three newly built homes in Clarksville are complete and available for rent to low-income families, with first priority going to U.S. military veterans, especially those with disabilities.

Clarksville Mayor Kim McMillan helped cut the ribbon Monday morning on the three homes built by Buffalo Valley Inc., in the Providence Pointe subdivision.

The Tennessee Housing Development Agency provided Buffalo Valley with a $500,000 grant toward the construction of these homes, as well as four others in the Chattanooga area.

“Being able to live in stable, supportive homes like these, in the middle of a beautiful new neighborhood like this one, helps give the American Dream back to some of the veterans who proudly served our country and are now struggling to get by,” said Buffalo Valley CEO Jerry Risner.

Buffalo Valley, a Clarksville-based nonprofit housing provider, will rent these homes to residents who earn less than 30 percent of the local median income and meet other eligibility requirements.

“Bricks and mortar are important, but so is creating a sense of home and community, and that’s exactly what Buffalo Valley has succeeded at doing here so beautifully,” said Denise McBride, Middle Tennessee Liaison for THDA.

The City of Clarksville donated the property where the homes were built, and additional funding was provided by the U.S. Department of Housing and Urban Development. The City is also completing another affordable home in the neighborhood using the federal HOME program.

“Amid our growth and progress, I’m also proud of our efforts to make sure that Clarksville’s prosperity is being shared with all of our citizens, especially senior citizens and low and moderate income households, and our large number of service veterans,” Mayor McMillan said.
“A big part of this is our work to battle homelessness and to promote maintaining and building affordable and workplace housing in Clarksville.”

Much of the City’s work on affordable housing flows through its Office of Housing and Community Development, headed by Keith Lampkin. Since 2011, the Community Development office has completed 137 projects to build, rehabilitate, and provide emergency repairs to homes. Another 85 households have benefitted from down payment and closing-cost assistance. This totals more than $4.5 million of CDBG and HOME funds administered through Clarksville Community Development.

Also since 2011, the City of Clarksville has been involved in construction of 400 units of affordable and workforce housing using federal low-income housing tax credits administered by THDA. Another 192 units are approved and construction will start in Spring 2019.

“We are proud of the work we’ve done to help launch this Providence Point neighborhood, and we are pleased to partner with THDA and Buffalo Valley, which will give first priority on these homes to applicants who are U.S. military veterans with disabilities,” Mayor McMillan said.

THDA issued its $500,000 grant from the Tennessee Housing Trust Fund (THTF), which receives no tax dollars but is instead funded by revenue from THDA’s Great Choice Home Loan program. Nonprofits and local governments from across the state compete twice a year to receive THTF funding for their affordable housing initiatives. Since 2006, THDA has provided more than $74 million in THTF grants.

More information about THDA can be found online at THDA.org .

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Mayor Kim McMillan, Buffalo Valley Inc. CEO Jerry Risner, THDA Liaison Denise McBride and other dignitaries joined Monday to cut the ribbon on new affordable housing for veterans at Providence Pointe subdivision in Clarksville.