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Financing provided to Community Housing Development Organizations (CHDOs) as they seek to finance in part the acquisition, construction, or renovation of multifamily and single family housing for low and moderate income families. The total amount of the loan may not exceed 50% of the total costs of the housing project financed by such loan. CHDOs must obtain, through a firm commitment, a secure funding source for the balance of the total costs of the project.
The loans will be received, underwritten, approved and serviced by Invest Atlanta staff. All CHDO loans will be underwritten using URFA's underwriting guidelines and policies for such loans inclusive of third party independent appraisals and environmental phase one reports.
The Application Process
A CHDO has the option of requesting a meeting with Invest Atlanta staff to discuss the feasibility of the project, the potential project funding and the overall application process. If a CHDO chooses to complete the application form and submits it to Invest Atlanta, the form will be reviewed by Invest Atlanta staff. If it is determined that the project and the funding request are compatible, a secondary project meeting will be scheduled regarding the project.
The Funding Application must be complete, as determined by Invest Atlanta in its sole discretion, based on the requirements in the application. A Funding Application will be reviewed only when it is complete. The Funding Application fee must be submitted with the application. The fee is non-refundable and the Funding Application fee will be credited towards the loan origination fee if the loan is approved.
2012 Developer Funding Descriptions
The NEW 2012 Exploratory Application for Funding
(Excel Based)
For More Information Contact:
Rasheed Bracey
Housing Finance Program Manager,
404-614-8290
rbracey@investatlanta.com
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