0:00 – Call to Order. The Vice Chair called the September 21, 2026 meeting of the Health, Educational and Housing Facility Board of the City of Chattanooga to order, noting the meeting had been properly advertised and a quorum was present. The Board Chair, Mr. Armor, was out of the city and did not attend.
3:44 – Approval of Minutes. A motion was made to approve the minutes of both the July 20th and July 27th monthly meetings together. Seconded; approved unanimously.
4:32 – Public Comment. The chair opened the floor to any persons wishing to address the board on matters not otherwise on the agenda; no comments were offered.
Timestamp: 4:50 – 20:20. Purpose: A resolution approving a payment-in-lieu-of-taxes (PILOT) agreement with Standard Runion Ventures LP for the Joyfield affordable housing development on Mountain Creek Road. Details: 15-year tax abatement period; project consists of 199 units (159 one-bedroom and 40 two-bedroom) across three split-level, four-story residential buildings on 7.84 acres; amenities include a fitness center, community space, on-site management, laundry facilities, and parking for every unit; access is shared with an adjoining senior living center via an easement to Runion Drive. A commissioned traffic study projected roughly 30 trips during the morning peak. The developer is seeking to close financing by the end of October 2026, with construction targeted for the first or second quarter of 2027; board approval of the PILOT and final sign-off on the TERA agreement are conditions of that financial closing. Action: Approved. Motion to approve made and seconded; passed on a voice vote with none opposed.
Timestamp: 20:34 – 24:11. Purpose: A resolution ratifying the chair's execution of a disclosure letter with underwriter Stifel, Nicolaus & Company, Inc. regarding the Standard Runion Venture LP Joyfield Series 2026 bond issuance, and authorizing and approving all documents, instruments, actions, and matters necessary for the issuance, sale, and delivery of the bonds by the Health, Educational and Housing Facility Board. Amount: Bonded indebtedness of approximately $38 million. A bond closing will follow, contingent on this board action. Action: Approved. Motion to accept made and seconded; passed on a voice vote with none opposed.
Timestamp: 24:17 – 26:11. Purpose: A resolution ratifying the chair's execution of nine 2026 multifamily tax-exempt bond authority conditional commitment letters and ten MTBA borrower/issuer certifications, executed under a time crunch ahead of this meeting at the request of the Chattanooga Housing Authority (CHA). Developments covered: RP Brainerd LP; RP Kensington LP; Matco Jenkins Flats; Matco Northshore; Matco Flats; Stanford Gap P1; Stanford Gap P2; DGA Ridge View LP; Clear Branch Town Homes; and Standard Brainerd (issuer certification only, no separate conditional commitment letter for this one). Action: Approved. Motion to approve made and seconded; passed on a voice vote with none opposed.
Timestamp: 27:48 – 29:10. Purpose: A resolution ratifying the chair's execution of an inspection and maintenance agreement for private stormwater management facilities in connection with the CE Milltown PILOT transaction. Board members were told an update on the CE Milltown project generally will be provided at a future meeting. Action: Approved. Motion to approve made and seconded; passed on a voice vote with none opposed.
29:34 – Erlanger / Common Spirit Health bonds. Staff noted continuing compliance on the board's outstanding Erlanger bond issuance and referenced a roughly 120-day due-diligence period that began around July 23rd tied to potential future activity; no new bond deals are currently being considered. Staff confirmed Erlanger remains in compliance. The board was also reminded that it has previously issued bonds for what was Memorial Hospital, now Common Spirit Health.
32:34 – B&B Crane One Westside notice of non-payment. A supplemental payment notice for B&B Crane One Westside (parcels 1A and 1B) was flagged; payment was sent September 8th and forwarded to the responsible entities (a CHA arrangement). Staff expects the matter to be resolved by next month's meeting.
33:41 – Annual mayoral PILOT reporting. Staff confirmed the board's 2026 annual PILOT report for Market Street City Center has been filed with the State of Tennessee Comptroller's office, and the board remains in compliance with its reporting requirements for that TIF/bond arrangement.
