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In 2004, Mayor Shirley Franklin established a goal of creating 10,000 units of affordable workforce housing by 2009. To assist in accomplishing this endeavor, the City of Atlanta, the Atlanta Housing Authority, and the Atlanta Development Authority have partnered together to implement a new $75 million workforce housing initiative for persons and families who desire to reside in the City of Atlanta. The first series of bonds closed in April, 2007 in an amount of $35 million. The proceeds will be used to fund six various initiatives:
ADA/URFA began implementing the single family mortgage
assistance program in May, 2007. For more information,
please visit our HOME Atlanta
webpage. The remaining components will be implemented
in phases starting with the Multifamily Loans, Land
Assemblage, and CHDO Loans. To find out more information
on the programs, eligibility requirements, and target
implementation dates, please visit the respective webpages
for each program component.
The staff here at ADA/URFA will be conducting periodic information sessions with builders, developers, non-profits, and CHDOs as we continue to to work toward developing program guidelines, underwriting criteria, and the application process. Please be sure to provide us with your contact information at pulseofprogress@atlantada.com to ensure that you are notified of the program information sessions.
Housing Opportunity Flyer
Housing Opportunity Bond Report, 1st Quarter 2009
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