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Regions Foundations of Tennessee donates $250K to Barnes Fund

WSMV Nashville logo WSMV Nashville 10/21/2020
a man in a suit sitting at a table using a laptop: Nashville Mayor John Cooper delivers the State of Metro speech. (Photo: Michael W. Bunch/Metro Photographer) © Michael. W Bunch/Metro Photographer

Nashville Mayor John Cooper delivers the State of Metro speech. (Photo: Michael W. Bunch/Metro Photographer)

NASHVILLE, TN (WSMV) - Mayor John Cooper announced Wednesday Regions Foundation of Tennessee has donated $250,000 to the Barnes Housing Trust Fund, the Mayor’s Office program that provides financial assistance for the creation and preservation of affordable housing in Davidson County.

Regions Foundation of Tennessee’s donation is the first major private sector donation to the Barnes Housing Trust Fund. This donation follows a commitment of $10 million by Cooper in Metro’s FY2020-21 budget to support affordable housing efforts.

“The Regions Foundation of Tennessee’s donation is proof of Nashville’s thriving philanthropic spirit and a community-wide commitment to affordable housing,” Cooper said in a news release. “While my administration remains committed to supporting the Barnes Fund through the operating budget, we welcome increased investment from our community partners. The Regions Foundation of Tennessee’s generous donation will hopefully be the first of many from the philanthropic and private sectors.”

For more than 20 years, the nonprofit Regions Foundation of Tennessee has sought to improve the quality of life throughout the area by investing in programs and initiatives that make a meaningful impact on others. The grant announced on Friday is the latest commitment to address urgent needs while helping more people prosper.

“The Regions Foundation of Tennessee is committed to serving the needs of communities across our state, and one of the greatest needs in Nashville is access to affordable housing,” Lee Blank, Foundation Chairman, said in a news release. “We believe access to affordable rent or home ownership are cornerstones to supporting hardworking families and creating a path toward improved prosperity. This investment in the Barnes Housing Trust Fund is an important step in supporting this critical need.”

“One of the most powerful ways we can make a difference is to help connect people with quality housing where they can thrive,” added Latrisha Jemison, Chief Operating Officer of the Foundation. “Nashville continues to grow because of the many opportunities that are here for people to succeed. We believe this work by the Mayor’s Office and the Housing Trust Fund Commission will help ensure more people can share in that prosperity.”

“Every dollar that is granted through Barnes to our nonprofit partners is leveraged five to one. With the incredible ingenuity of our nonprofits, this generous donation from the Regions Foundation of Tennessee can become more than a million dollars in affordable housing creation and preservation,” said Hannah Davis, Director of Housing Programs for Mayor Cooper. “The Housing Trust Fund Commission and I are deeply grateful to the Regions Foundation of Tennessee for their proactive investment in the long-term health and vitality of Nashville’s affordable housing landscape.”

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