Opportunities
Priority initiatives provide the greatest opportunities for getting involved with the work of CNE. CNE's current priorities include:
Priority Initiatives:
CNE Annual Fund
Like all not-for-profits, CNE relies on the generosity of supporters to cover much of the cost of carrying out its important work in the community . Gifts to the CNE Annual Fund help the organization by providing unrestricted funds that make possible the day to day support needed to administer our important programs. Unrestricted funds are used to underwrite costs associated with specific neighborhood projects like the Glenwood Neighborhood Park, neighborhood association projects and competitions, and community engaging events like the CNE Block Party.
Revolving Loan Funds:
CNE Gift Loan Fund
A revolving loan fund, the CNE gift loan fund was established in 2000 to support and complement CNE's capital base needed to carry out important lending projects. Gift Loan Funds have been used for loans to facilitate Home Purhases, make loan money available for needed Home Improvement repairs, and provide a capital cushion for numerous projects where income restricted monies could not be used. Since these restricted funds are paid back and recycled, Gift Loan Funds are an especially effective way for contributors to make a lasting impact on Chattanooga.
Buy It Fix It - Rehab Fund
These funds will enable CNE to facilitate specific housing acquisitions in target Chattanooga Neighborhoods. Gifts to the Home Purchase - Rehab Fund enable CNE to provide Home Purchase loans needed to acquire blighted or abandoned properties in neighborhoods where we are currently focused. Rehab Funds are then used to enable CNE to make below market rate second mortgage rehabilitation loans to the same owner-occupied borrowers as long as they agree to CNE's standards of rehabilitation and neighborhood participation.
Small Business Lending Fund
These funds enable CNE to provide commericial and small business loans at below market rates in order to spur commercial development in areas undergoing revitalization. By adding to the overall investment in a neighborhood, and improving the local economies surrounding ongoing CNE projects and target areas, these commercial loans can make the difference, creating sustainable and self-replicating revitalization.
Grant Funds:
Homeownership Incentives Micro-Grant Fund
These funds enable CNE to make micro grants to buyers willing to help transform homes in target CNE neighborhoods. These immediately forgivable grants enable new residents to make immediate and stabilizing improvements to homes, regardless of income, and range from $500 to $5,000.
Down Payment Incentive Grant Fund
These funds enable CNE to provide forgivable loan funds to buyers willing to partner with CNE in order to bring about revitalization in target Chattanooga Neighborhoods. Similar to the successful ArtsMove and GeekMove programs, CNE hopes to broaden the scope and potential for these types of programs in order to attract active and engaged neighbors to Chattanooga's prestigious and revitalizing urban core communities.
Employer Home Purchase Funds
These funds, typically contributed by an employer, provided down payment incentive funds targeted for specific pools of employees in order to promote stability and economic growth of the employer's workforce. Funds can be limited to specific areas surrounding the workplace, or used to promote a higher rate of homeownership amongst a workforce population.
