CNE Plans To Launch Mai Bell II On Union Avenue

Tuesday, February 2, 2021

Chattanooga Neighborhood Enterprise (CNE) plans to launch the 47-unit Mai Bell II at 1715 Union Ave.

The first project named to honor Mai Bell Hurley, who served on the City Council and in a host of civic roles, was built nearby four years ago.

Martina Guilfoil, who heads CNE, said it only has a two percent vacancy rate.

CNE plans to invest $5.4 million in the new project that will include six buildings.

Ms. Guilfoil said CNE is non-profit, but is required to pay property taxes so it is seeking a 10-year PILOT (Payment in Lieu of Taxes) for the project.

She said the school taxes would continue to be paid as well as the water quality fee.

Currently, Mai Bell I pays $36,477 in city taxes and $42,612 in county taxes.

The PILOT would freeze the property taxes on the new venture for 10 years at the pre-development level.

The project is aimed at providing housing at affordable rates, it was stated.

There will be 26 units under PILOT restrictions and nine units under HOME restrictions. Twelve units will be at market rate with rents of $1,250.

Other rents will be as low as $795 per month and will be income based.

CNE has also acquired property on Bailey Avenue near Big Brothers, Big Sisters. It has torn down several structures there and is studying what to do with the property. 


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