At long last, the $100 million housing opportunity bond proposal, which experts believe could actually put a sizable dent in Atlanta’s housing affordability crisis, is headed toward approval by the city council.
Tag: Housing Opportunity Bond
Posted inSean Keenan
Councilman: $100 million affordable housing bond program needs to spur wealth creation
Snagged by the side effects of the COVID-19 pandemic, Atlanta’s much-anticipated housing opportunity bond program could be nearing passage. But some proponents of the initiative say the proposal first needs to be tweaked to foster wealth creation.
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Atlanta housing bond: Investors may buy, but at what price for city taxpayers
Atlanta may well be able to borrow money to provide affordable housing, based on the example of a bond sale Wednesday by a state with a credit rating one step above junk. Two questions are whether Atlanta’s city leaders want to take on new debt in the current economic slowdown, and what interest rate they’re willing for taxpayers to pay.
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Former Mayor Shirley Franklin says planned housing bond on hold; others differ
Former Atlanta Mayor Shirley Franklin said the city’s planned housing bond is dead in the water, a casualty of revenue shortfalls anticipated because of the COVID-19 pandemic. At least two members of the Atlanta City Council may beg to differ.
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Cut in half, to $100 million, Atlanta’s proposed housing bond retains support on council
Atlanta’s proposed housing bond will be pared to $100 million and presented to the Atlanta City Council soon, Atlanta City Councilmember Matt Westmoreland said Wednesday at an event sponsored by CityRootsATL. Councilmember Michael Julian Bond supported Westmoreland’s call for action.
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Atlanta’s proposed $200 million debt for affordable housing resembles balloon mortgage
Terms of Atlanta’s plan to borrow $200 million to fund affordable housing resemble a balloon loan on a residence – interest-only payments for the first two years, plus a higher interest rate than other types of debt and the ability to stretch the loan out to 50 years to lower the payment due each year.
Posted inLatest News
Atlanta’s planned $200 million housing bond faces grim, volatile market
One city government saw a five-fold hike in borrowing costs amid the coronavirus-spurred turmoil. This price hike is an indication of the volatile market into which Atlanta intends to sell up to $200 million in bonds to help secure affordable housing in the city.
