THDA's Impact Reaches Beyond Front Door

Thursday, April 27, 2017
The financial impact of Tennessee Housing Development Agency reaches past the new homeowners' front doors, contributing hundreds of millions of dollars to Tennessee's economy and $29 million in state and local taxes in 2016.
 
THDA's impact continues with a new mortgage loan down payment program that has boosted mortgage loan volume over $93 Million for 2017 already.
 
One key element of the 2016 program production is the nearly $264 million in mortgage loan volume helping almost 2,000 households achieve home-ownership.
With all the 2016 program investments, the total contribution to the state's economy is estimated at $855 million in business revenue and 6,013 in additional jobs.
 
Housing programs are good for individual households, good for the surrounding community and financially beneficial to the state and country. HUD Secretary Ben Carson's inclusion of housing as part of the country's infrastructure in recent remarks is noteworthy and accurate.
 
"THDA's impact on households benefiting from our programs, whether homeownership, rental assistance or foreclosure mitigation, strengthen Tennessee's household finances and those of its municipalities," said Executive Director Ralph M. Perrey.
 
The estimated $855 million of additional business revenue is the result of numer-ous investments by various THDA programs: funds are allocated to communities for locally-designed programs through the Tennessee Housing Trust Fund requiring local matches; the Low Income Housing Tax Credit and Multifamily Bond Programs develop affordable rental housing; and 40,398 households are helped with rent payments.
 
While THDA-related activities contributed an estimated $29 million in state and local taxes in 2016, THDA is a self-supporting entity of the State of Tennessee, using no state tax dollars for its operations.
 
The IMPLAN input-output model was used to calculate the ripple effects of THDA-related activities on the Tennessee economy. The IMPLAN model calculates total business revenues, personal incomes, and total employment.
 
The Economic Impact Report is released in tandem with the annual Program Summary. Both are available on THDA.org.


Shepherd Hills Apartments Sell For $5.9 Million

The Shepherd Hills Apartments have sold for $5.9 million. The apartment complex, built in 1965, is at 404 Tunnel Blvd. The 5.53-acre property includes total square footage of 99,760 square feet. The sale was  to 404 Homes Llc from Shepherd Hills Llc, of Las Cruces, New Mexico. (click for more)

Real Estate Transfers For June 7-13

NOTICE: The Hamilton County Register’s Office did not publish this data. All information in the Register’s Office is public information as set out in T.C.A. 10-7-503. For questions regarding this report, please call Chattanoogan.com at 423 266-2325. GI numbers, listed when street addresses are not available, refer to the location of transactions (book number and page number) ... (click for more)

Chattanooga Teen Charged In 2016 Murder Of Marion County Toddler

An investigation by Special Agents with the Tennessee Bureau of Investigation has resulted in the arrest of a Chattanooga teenager, who is charged with the abuse and murder of a South Pittsburg toddler. At the request of 12th District Attorney General J. Michael Taylor, on September 19, 2016, TBI Special Agents joined investigators with the South Pittsburg Police Department ... (click for more)

Former County Mayor, Deputy Governor Claude Ramsey Dies

Former County Mayor and Deputy Governor Claude Ramsey has died after a recent illness. Mr. Ramsey held a number of top government posts after leaving his strawberry farm at Harrison and going into politics. He was a major factor in the development of the Enterprise South Industrial Park and landing Volkswagen as its main tenant. He served in the state legislature and was ... (click for more)

Remembering Claude Ramsey

Chattanooga and Hamilton County has lost one of the best men that has ever held any office anywhere at anytime. Claude Ramsey a simple man who believed anything could be accomplished if you worked hard and treated people good. I remember meeting Claude at age 20 after moving to the big city after growing up in rural Rhea County. I was working at Turner Funeral Home and Claude ... (click for more)

Roy Exum: Participation Trophies

You may remember several years back when James Harrison, a linebacker for the Steelers at the time, came home to discover his two sons, who were then ages 8 and 6, had received “participation trophies” on a sports team. Harrison, who earned his way into the NFL (he was not drafted out of Kent State yet played in five Pro Bowls), promptly loaded his sons and the bogus trophies in ... (click for more)