Major sum will go to The Housing Fund's affordable housing initiatives
In line with its $2 billion homes pledge, Amazon has donated $1.5 million to The Housing Fund to incentivize landlords in Nashville who are committed to maintaining affordable housing.
“Amazon’s latest contribution will enable The Housing Resiliency Fund to expand its reach to help landlords of small multifamily and naturally occurring affordable housing dwellings of 50 units or less,” said Marshall Crawford, president and CEO of The Housing Fund. “As their taxes go up, landlords also need relief, so the burden is not passed on to tenants. These tenants are people who need to stay in their homes. We have been able to help hundreds of families so far and hope to continue that progress with Amazon’s support.”
The donation is on top of Amazon’s initial $2.25 million contribution to The Housing Fund in 2020, according to a release. The non-profit aims to use the additional donation to extend its property tax relief support for homeowners, through its Housing Resiliency Fund, to eligible landlords. It will also continue to make mortgage payments on behalf of qualified homeowners to help mitigate the impact of rising housing costs.
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“Financial challenges of late continue to weigh heavily on the residents of Nashville,” said Catherine Buell, director of the Amazon Housing Equity Fund. “We are committed to helping them feel relief and assurance knowing that they can stay in their homes. We look forward to expanding our impact in the region even further by supporting our neighbors in keeping their communities stable, safe, and sustainable places to live.”
“We know that housing stability is tightly interwoven with job stability, school success, and decreasing dependence on social services. Providing landlords with a way to absorb higher taxes from rising property values can help keep rents affordable for the vulnerable populations who need that most,” said Burkley Allen, a member at the Nashville Metropolitan Council. “I am thankful for Amazon’s commitment to affordable housing and their additional contribution to the Housing Resiliency Fund.”
