Affordable Inventory Solutions | Convergence Memphis

Mission

Build or create partnerships with:
- Metro Memphis Land Bank Authority and Community Redevelopment Agency to gain access to available land for redevelopment.
- Banks and nonprofits to meet appraisal gap challenges by making portfolio loans in key neighborhoods to raise comparable values.
Develop a possible subcommittee focused on appraiser diversity workforce development programs.
Align demand side boosters with incentives for the supply side. Leverage partnerships with HCD, THDA, and others.

Outcomes

Increased property and development financing access for minority and nonprofit developers. Establish the following:
- Unit production goal.
- Benchmark on funds raised for both construction and lending.
- Smoother process for engaging with federal funding (i.e. software/process to alleviate admin burden with government resources).
- Goals related to increased diversity in the appraiser workforce.