Housing Opportunity Bonds
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 Invest Atlanta 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 are used to fund six various initiatives
- Community Housing Development Organization (CHDO) Loans
- Housing Opportunity Bonds
- HOME Multifamily Financing
- Beltline Affordable Housing Trust Fund (BAHTF)
- Tax Exempt Bond Financing
- Single Family Developer Grant
- Residential Development Incentives Application
Invest Atlanta 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 (via stefan). 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 Invest Atlanta 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.