First $2 million allocation will provide critical home repair assistance to eligible residents through the Memphis HOPE Initiative.
MEMPHIS, Tenn. (Nov. 13, 2026) – The City of Memphis is making its first major investments through the Community Benefits Ordinance, directing revenue generated by SpaceX AI’s South Memphis facilities toward housing, neighborhood improvements, and services for area residents.
The first major allocation is $2 million for the Memphis HOPE Initiative, a new home repair assistance program that will help eligible residents make critical repairs and accessibility improvements to their homes.
Established under City Ordinance 5953, the Community Benefits Fund directs a portion of the property tax revenue generated by SpaceX AI’s Colossus I facility on Paul R. Lowery Road back into Investment Zone 1, a five-mile area surrounding the facility in South Memphis.
Administered by the City’s Division of Housing and Community Development, the Memphis HOPE Initiative will provide eligible low- and moderate-income homeowners and renters with up to $25,000 for qualifying home repairs and improvements.
Eligible improvements include:
- Structural repairs
- Plumbing, heating, and air conditioning repairs
- Roof repairs or replacement
- Accessibility modifications
- Certain exterior improvements, including painting, fencing and landscaping
Assistance will be provided as a deferred, forgivable loan with 0% interest and no monthly payments. Any required lien will be recorded after repairs are completed and forgiven after three years, provided applicable residency requirements are met.
Residents can visit the program website to determine whether their property is within Investment Zone 1 and begin the online application process. Applicants must meet household income requirements and, as applicable, be current on property taxes, mortgage payments, and utility bills or have an approved property tax payment plan. Required documentation must be submitted with the application.
Applications will be accepted beginning at 8 a.m. Monday, Nov. 16, through 11:59 p.m. Wednesday, Nov. 25. Residents with questions or those without computer access or who need assistance completing an application can call 901-636-7354.
Community Benefits Fund investments
The Memphis HOPE Initiative is part of a total $3,259,282 allocation approved by the Memphis City Council through the Community Benefits Fund for 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
The Community Benefits Fund has approximately $3.26 million available for the current fiscal year. All funding must support eligible programs and activities within Investment Zone 1.
Residents can learn more about the Community Benefits Fund by visiting memphistn.gov/cbf.
To determine whether their property is within the eligible area and apply for the Memphis HOPE Initiative, residents can go to memphistn/gov4hope.
Media Contact:
Arlenia Cole, City of Memphis
arlenia.cole@memphistn.gov