Tennessee Code Title 9. Public Finances § 9-6-104

(1) Acquire, own, develop, lease, operate, and maintain one (1) or more essential housing developments primarily within the jurisdiction of the local government;

(2) Lease essential housing developments from one (1) or more persons determined by the governing body to have demonstrated the ability to develop, operate, and maintain housing developments of a similar nature, all on such terms as may be approved by the governing body;

(3) Enter into contracts providing for the operation and maintenance of essential housing developments with private entities or other persons determined by the governing body to have demonstrated the capacity to provide such services for similarly situated properties;

(4) Provide for the payment of, and security for, its lease payment obligations related to an essential housing development by and through the following;  provided, that the maximum term of any lease entered into pursuant to this subdivision (a)(4) must not exceed fifty-five (55) years:

(5) Provide for the rental of the units of an essential housing development to essential employees;  provided, that the local government may also rent such units to persons other than essential employees during periods in which such units are not needed by essential employees;

(6) Adopt, implement, and enforce any and all policies, rules, and regulations regarding the operations of an essential housing development, including without limitation:

(7) Enter into any ancillary agreements deemed necessary or appropriate by the governing body relating to the essential housing development.