Atlanta Housing’s new Housing Development and Preservation Financing Bond Program is now accepting applications, officially launching the expansion of the agency’s new financing tools. By leveraging bond financing, the program will help accelerate the development and preservation of affordable and mixed-income housing, expand opportunities to acquire and rehabilitate existing properties, and provide greater flexibility to respond to evolving funding and market conditions.
The bond program is currently open to pre-qualified developers of Atlanta Housing’s “Essential Function Bond Development Partners” Request for Proposal (RFP) who are pursuing new construction, acquisition or rehabilitation of multifamily housing and aim to create new pathways to increase and preserve affordable housing across the city. To qualify for bond financing, developments must reserve at least 20% of units for households earning 50% or less of Area Median Income (AMI) or at least 40% of units for households earning 60% or less of AMI.
“Atlanta Housing is proud to avail the new Housing Development and Preservation Financing Bond Program, as a critical tool to help the city create and preserve affordable housing,” said Terri M. Lee, President and CEO of Atlanta Housing. “As we navigate an increasingly challenging affordability landscape, Atlanta Housing will continue to seek innovative solutions to achieve our aims of building and preserving accessible housing options for families who need it most.”
The Atlanta Housing Board of Commissioners unanimously approved the new bond program, creating a flexible financing framework to expand affordable housing creation, preservation, and acquisition while strengthening the agency’s funding diversity. In this way, the agency can reduce reliance on any single source of revenue, allowing for continued investment in communities, while safeguarding the resources needed to support future development.
For more information on the Housing Development and Preservation Financing Bond Program and to learn how to become pre-qualified, please see this page for details.
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ABOUT ATLANTA HOUSING
President and Chief Executive Officer Terri M. Lee leads The Housing Authority of the City of Atlanta, Georgia (AH), the largest housing authority in Georgia and one of the largest in the nation. AH carries the prestigious Moving to Work (MTW) designation and serves as an industry leader in providing and facilitating affordable housing resources for nearly 27,000 low-income households comprised of approximately 43,000 people through its AH-owned residential communities, tenant-based and project-based vouchers, supportive housing, as well as down payment assistance, where innovation leads the approach to making the dream of homeownership attainable for more Atlantans. Atlanta Housing programs are funded by the U.S. Department of Housing and Urban Development.
Visit AH at www.atlantahousing.org or follow us on social media @housingatlanta.
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