Chattanooga Neighborhood Enterprise, Inc.

Street Address:
1301 Market Street
Suite 100
Chattanooga, TN 37402
Mailing Address:1301 Market Street
Suite 100
Chattanooga, TN 37402

Phone: 423-756-6201
Fax: 423-756-3851
Website: www.cneinc.org

David A Johnson, President and Chief Executive Officer

Contact Name: David A Johnson
Phone: 423-756-6201x224
Fax:
Email: djohnson@cneinc.org


Staff Size: Full Time: 21 

Background
Chattanooga Neighborhood Enterprise (CNE) is the result of a public/private sector partnership formed to address the needs of neighborhoods. In the fifteen years of its existence, CNE has participated in the financing of loans to produce, rehabilitate and develop over 6400 units of housing. This represents an investment of over $221 million.

Mission
The Mission of CNE is to Improve the lives of low to moderate income Chattanoogans by building strong, sustainable neighborhoods and by fostering homeownership

Total Operating Expense (9/30/2007): $14,918,526

 Lines of Business
  • Community Based Economic Development

  • Community Building and Organizing

  • Home Ownership Promotion Services

  • Lending and Loan Portfolio Management


    • National NeighborWorks ® Programs
  • NeighborWorks Campaign for Home Ownership
  • NeighborWorks Multifamily Initiative

    • Accomplishments in FY 2008
  • Provided 165 families with pre- and post- purchase housing counseling.
  • Rehabilitated or repaired 38 rental or owner occupied units (1-4 units).
  • Assisted 66 families in purchasing a home through homeownership counseling, downpayment, closing cost or financing assistance.
  • Owned or managed 179 rental units.
  • Invested $202,993 in the community through Chattanooga Neighborhood Enterprise, Inc.'s revolving loan fund, which leveraged $8,468,993 from conventional lenders and other sources.
  • Total direct investment in the community is $8,671,986.

    • Additional Accomplishments
    Date Additional Accomplishment
    1/17/2001 The organization has in progress five major developments, as follows:
    1/17/2001 1. Dogwood Manor: rehabilitation of a foreclosed high rise, HUD financed development. This will produce 136 one-bedroom, affordable rental units for senior citizens. Total cost of project is $5.6 million;
    1/17/2001 2. Alexian Court: rehabilitation of a closed school building along with construction of eight duplexes on vacant campus property. This development will provide 47 one-bedroom and two-bedroom affordable units for senior citizens. Total cost of project is $4.7 million;
    1/17/2001 3. Magnolia Garden Townhomes: new construction that will produce 20 two-bedroom and three-bedroom affordable rental townhomes. Total cost of project is $1.8 million;
    1/17/2001 4. Cowart Place: the development of a mixed income/mixed use neighborhood. The current status includes 13 townhouse ownership units between $103,000 and $135,000; 3 single-family bungalow ownership units between $150,00 and $200,000 and 19 affordable rental units. Construction is underway on four townhouses in the $106,000 to $192,000 price range along wth two single-family bungalows with a price range of $195,000 to $200,000. The next phase of development will be two seven-unit townhouse buildings along with 30 units of market rate apartments. This will be followed by a group of affordable single-family residences.
    1/17/2001 5. The fifth major development is the First and Market Condominiums: this project consists of 12 market rate residential condos and four commercial or business condos. Eight of the units are sold. The next phase of this development consists of eight townhouses in the $325,000 range. Four of the units are under construction. Total cost of this development is $4.5 million. This is a downtown market rate demonstration development.

    Community Services
  • Community Building

  •  Business/Merchant Relationship

  • Financial Planning and Assistance

  •  Disposition of Foreclosed Property

  •  Down-payment Assistance

  •  Financial Education

  •  Foreclosure Prevention Training

  •  Low Income Housing Tax Credit (LIHTC)

  • Green Building and Home Improvement

  •  Home Maintenance Training

  •  Tool Lending Library

  • Housing Programs and Home Ownership Counseling

  •  Home Ownership Center

  •  Home Ownership Counseling


    • Board of Directors
    NameBoard Role/TitleSectorCompany/OrganizationJob Title
    Bruce AdamsBoard MemberFinancial InstitutionFirst TennesseeVice President
    Jack BensonBoard MemberLocal GovernmentChattanooga City CouncilCouncilman
    Cynthia CooperBoard Assistant SecretaryNon-Profit InstitutionChattanooga Neighborhood Enterprise, Inc 
    Freeman CooperBoard MemberLocal GovernmentChattanooga PoliceExecutive Chief
    Beverly CosleyBoard MemberBusinessBlue Cross Blue ShieldManager
    Kenny DyerBoard MemberFinancial InstitutionRegions BankCity President
    Richard J EbersoleBoard Vice ChairBusinessCommunity Volunteer 
    Marisol JiminezBoard MemberCounty GovernmentEastide Elementary SchoolTeacher
    David A Johnson,IIIBoard PresidentNon-Profit InstitutionChattanooga Neighborhood Enterprise, IncChief Executive Officer
    Irvin O OvertonBoard ChairResidentCommunity Volunteer 
    Chantelle RobersonBoard MemberOtherMiller Martin Attorneys, LLC 
    Roger TuderBoard Secretary; Board TreasurerBusinessAGC of East TennesseePresident & CEO

    About the NeighborWorks ® Network
    The NeighborWorks® network is a nationwide network of more than 240 community development organizations working in nearly 4358 urban, suburban and rural communities across America. These organizations engage in revitalization strategies that strengthen communities and transform lives. In the last five years alone, NeighborWorks® organizations have generated more than $8.5 billion in reinvestment and helped more than 500,000 families of modest means purchase or improve their homes or secure safe, decent rental or mutual housing.

    NeighborWorks ® America Contact Information
    District:  Great Lakes
    Name:  Karen Whedon
    Phone:  513-221-4260
    Toll-Free:  877-316-8880
    Fax:  513-221-4425
    Email:  kwhedon@nw.org