published Tuesday, May 1st, 2012

Video: Chattanooga pledges $250,000 to encourage police to buy houses within city limits

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  • Grant will give police officers up to $20,000 to live in Chattanooga
    A grant from the City of Chattanooga will give police officers up to $20,000 to live within the Chattanooga city limits. The grant, administered by Chattanooga Neighborhood Enterprise, will be forgiven 20 percent each year for five years.

The city of Chattanooga is offering police officers $250,000 to buy houses in the city.

Each officer moving to the city is eligible for a $10,000 loan forgivable over five years. Those willing to move into neighborhoods the Chattanooga Neighborhood Enterprise is working to revitalize can receive $20,000 on the same terms.

“It increases the value of the whole community,” Chattanooga Mayor Ron Littlefield said after announcing the program this morning. “It’s a great investment.”

The money comes from the city’s general fund and is administered by the Chattanooga Neighborhood Enterprise. Several officers have already entered the program, and the neighborhood group expects the first officer to buy a house within a month.

Read more in tomorrow’s Times Free Press.

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