district

3

 SOUTHSIDE - SOUTH HILLS

 SOUTHSIDE FLATS

 SOUTHSIDE WORKS

 BELTHOOVER - BON AIR

 KNOXVILLE - SOUTH OAKLAND

Ranked 8th

in total private and public funding

Councilman
BRUCE KRAUS

District 3 includes a number of South Side and South Hills communities, including the three minority communities in this district, Beltzhoover, Bon Air, and Knoxville, as well as South Oakland across the Mon River. During the period 2007 and 2019, just over $870 million was approved in District 3, 7.4% of the citywide total loan dollar volume for this period.

 

It should be no surprise that the South Side Flats’ vibrant business district and rapidly gentrifying housing saw more than 2,500 loans for half-a-billion dollars between 2007 and 2020. In contrast, lending to the Flats was more than double the combined total of loans and loan dollars in Beltzhoover, Bon Air, and Knoxville (824 loans for $45.6 million).

District 3 Kraus.jpg

Table 10H. Total Public and Private Investment in District 3. Councilman Bruce Kraus

Neighborhood

PHFA

HACP

URA

Total Public $

Total Public $

Total Public and Private $

$113,843,560

$532,039,000

$645,882,560

South Side Flats

$18,500,000

$254,460

$95,089,100

South Side Slopes

$0

$0

$250,001

$250,001

$178,558,000

$178,808,001

$13,438,720

$79,955,000

$93,393,720

South Oakland

$0

$137,000

$13,301,720

Allentown

$0

$9,429,642

$105,001

$9,534,643

$25,115,000

$34,649,643

$135,001

$28,993,000

$29,128,001

$135,001

$0

$0

Beltzhoover & Bon Air

Knoxville

$0

$0

$1,225,001

$1,225,001

$16,703,000

$17,928,001

$187,666

$13,089,000

$13,276,666

Arlington*

$0

$184,416

$3,250

Mt. Oliver**

$0

$0

$25,000

$25,000

$4,264,000

$4,289,000

$318,000

$318,000

Arlington Heights*

$0

$318,000

$0

St. Clair**

$0

$14,000

$0

$14,000

$14,000

Totals

$18,500,000

$110,134,074

$10,337,518

$138,971,592

$878,716,000

$1,017,687,592

Minority Community Totals

$3,136,801

$55,636,000

$127,489,545

Grey shaded areas are minority

Notes: *Bank lending to Arlington includes Arlington & Arlington Heights; **Bank lending to Mt. Oliver also includes St. Clair.

District 3 ranked fifth in total public funds of $138,971,592. Most of the funding came from the URA, with only $18.5 million allocated by the PHFA. But combined, District 3 was next-to-last in total public and private investment of $1 billion, of which 86.3% came from private bank investment. Bank financing of $45.6 million in District 3’s minority neighborhoods was massively larger than public funding of $1.3 million.