City of Memphis directs $3.26M in data center revenue to South Memphis neighborhoods

MEMPHIS, Tenn. (WMC) - The City of Memphis announced in a press release on Friday that it is making the first major investment in the Community Benefit Ordinance and directing data center revenue towards housing and neighborhood improvements in South Memphis.

The City of Memphis said that the first $2 million allocation is for the Memphis HOPE Initiative. This is a new home repair assistance program that will help eligible residents make critical repairs to homes.

City Ordinance 5953, the Community Benefit Fund, directs a portion of property tax revenue from SpaceXAI’s Colossus 1 facility to fund these projects.

The Memphis HOPE Initiative will provide assistance for low- and moderate-income homeowners and renters with up to $25,000 for qualifying home repairs and improvements.

The eligible improvements are listed as follows:

• Structural repairs
• Plumbing, heating, and air conditioning repairs
• Roof repairs or replacement
• Accessibility modifications
• Certain exterior improvements, including painting, fencing and landscaping

The total amount allocated by the Memphis City Council is $3,259,282 through the current fiscal year.

The funding includes:

• $2 million for home repair assistance
• $309,282 for community grants supporting public safety, youth, workforce development, and other services
• $250,000 for paid neighborhood cleanup and beautification jobs
• $250,000 for property board-ups and demolitions
• $150,000 for blight mitigation and remediation
• $125,000 for cooling and air quality equipment for residents
• $100,000 for environmental education
• $50,000 for grants to health care-focused organizations
• $25,000 for Memphis City Beautiful

To learn more about the Community Benefits Fund, visit their website.

To learn more about whether your property is within the eligible area and how to apply for the Memphis HOPE Initiative, visit their website.

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