Chattanooga residents demand land trust and affordable housing reforms from Invest Chattanooga

During the Chattanooga City Council meeting on January 21, 2025, a passionate call for reform in affordable housing policies resonated with attendees, highlighting significant community concerns. A speaker, identified as Miss Capricio, urged the council to divest from Invest Chattanooga, arguing that current practices amount to "legal theft" of public property and threaten the stability of local neighborhoods.

Capricio emphasized the need for a land trust to protect homes from being auctioned off, particularly criticizing the allocation of low-income tax credits to wealthy construction companies while vulnerable residents face displacement. She pointed out that the area median income figures used to define affordability do not reflect the realities of renters, many of whom earn as little as $7.25 an hour.

The speaker proposed a pledge to ensure that 50% of new housing developments cater to individuals earning 50% of the area median income, asserting that the current thresholds set by Invest Chattanooga are misleading and inadequate. She argued that the council's approach to affordable housing is fundamentally flawed, calling for a one-for-one replacement policy for every unit demolished to ensure that safe housing remains available for all residents.

The meeting underscored a growing frustration among community members regarding housing policies that they feel prioritize privatization over the needs of local families. As the council adjourned, the urgency for a more equitable housing strategy was clear, with calls for immediate action to protect the community's cultural and historical fabric. The discussions from this meeting are expected to influence future policy decisions as the city grapples with the pressing issue of affordable housing.