[Congressional Record Volume 141, Number 62 (Tuesday, April 4, 1995)]
[Senate]
[Pages S5159-S5160]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]


           TRIBUTE TO THE CHATTANOOGA NEIGHBORHOOD ENTERPRISE

 Mr. FRIST. Mr. President, I rise today to commend the 
Chattanooga Neighborhood Enterprise, Inc. for its innovative approach 
to revitalizing old neighborhoods and providing affordable housing and 
low and moderate income families.
  The neighborhood enterprise was created in 1986 to provide the 
opportunity for all Chattanoogans to live in decent, fit, and 
affordable housing, and CNE is fulfilling that mission by lending money 
to homebuyers, advocating homeownership, developing and managing 
affordable housing, and helping revitalize old neighborhoods.
  Mr. President, more than 71 percent of all families within the city 
limits of Chattanooga make $35,000 or less each year. With many of the 
city's older residential neighborhoods in decline, the Chattanooga 
Neighborhood Enterprise realized that community and local business 
investment could revive these areas and allow more families to achieve 
their dreams of owning a home.
  Since 1986, CNE has produced, rehabilitated or financed more than 
2,500 units of housing in Chattanooga, and it manages more than 300 
units of rental housing. Not only does it assist homeowners, 
homebuyers, the elderly, single-parent families, the disabled and the 
homeless in the inner-city area, CNE also helps families in the metro 
area and remote areas of Hamilton County. The neighborhood enterprise 
is helping to break the cycle of poverty for many permanent residents 
of public housing by giving them an affordable 
[[Page S5160]] alternative. Currently, about 15 percent of CNE's 
customers were once residents in the city's public housing.
  By making community involvement a top priority, the Chattanooga 
Neighborhood Enterprise has become a shining example of how public-
private partnership can more effectively provide the same, if not 
better, services and help the people who truly need it. At a time when 
the Department of Housing and Urban Development has come under serious 
scrutiny, it is refreshing to know that low-income families in 
Chattanooga have an alternative.
  Mr. President, this successful housing program receives funding from 
Government agencies, private corporation, and foundations alike. With a 
$21 million budget in 1994, Chattanooga Neighborhood Enterprise has 
much more money to spend on the city's housing than HUD does, and 
private sector involvement prevents if from becoming the ineffective 
bureaucracy characteristic of many government agencies.
  In helping Chattanooga's residents find quality affordable housing, 
the neighborhood enterprise also helps the city of Chattanooga. As 
areas of the city are restored and families move in, the amount of tax 
money the city receives increases. In fact, each year, the city brings 
in more than $1.2 million in tax money that can be directly attributed 
to the work of the Chattanooga Neighborhood Enterprise.
  The Chattanooga Neighborhood Enterprise has touched the lives of 
thousands of Chattanoogans and for that, Mr. President, I commend them 
for their hard work and dedication.


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