Residential Developer Funding Incentives
Invest Atlanta is a public authority created by the City of Atlanta to promote the revitalization and growth of the City. It represents a consolidation of the City’s economic and community development efforts in real estate, finance, marketing and employment, for the purpose of providing a focal point for improving Atlanta’s neighborhoods and the quality of life for all of its citizens.
One of Invest Atlanta’s core competencies is real estate finance. Invest Atlanta has several loan programs that it administers for workforce housing developments. These programs include:
- Tax Exempt Bond Financing
- Housing Opportunity Bond Financing
- Housing Opportunity Bond Financing (CHDO Set-A-Aside)
- Vine City Trust Fund Financing
- HOME Investment Partnership Program Financing
- Atlanta BeltLine Affordable Housing Trust Fund (BAHTF) Financing
Finally, Invest Atlanta administers lease-purchase bonds which provide a 10-year reduction on property taxes in exchange for a project with public benefits such as workforce housing or permanent job creation.
The concept submission is for developers who have:
- An idea for a development but are unsure about the funding sources
- A need for financial consultation on a development project
- Limited experience with workforce housing developments
While the concept submission is provided to the development community to foster the relationship while a project is in the preliminary stages, it is not required that all developers complete the concept submission. If you are a developer who seeks to understand the process and who needs a comprehensive analysis of your development, please complete the concept submission and contact Alan Ferguson at (404) 614-8290 / email@example.com or Vickey Roberts at (404) 614-8305 / firstname.lastname@example.org.
Developer Incentive Application
The Developer Incentive Application is For Developers, who have:
- All the prerequisites for funding and project underwriting as stated in the 2015 Developer Incentive Program Guidelines
- Existing experience with Invest Atlanta or GA Dept. of Community Affairs funding
If you are a developer who is ready to proceed toward funding, please complete the Developer Incentive Application. Once the application is completed in its entirety, please contact Alan Ferguson at (404) 614-8290 / email@example.com or Vickey Roberts at (404) 614-8305 / firstname.lastname@example.org.
In order to determine eligibility of a development for Developer Incentive financing, interested applicants must:
- Contact Invest Atlanta to arrange an initial meeting to discuss the viability of your proposed development for financing.
- Complete the application and submit the package electronically on a CD or USB Flash Drive with content, tabs, formatting and order of application. One copy of the completed application on CD or USB Flash Drive shall be submitted to Invest Atlanta, accompanied by the non-refundable application fee.
- Upon receipt of an application, Invest Atlanta staff will review the application for content and completeness.
- After the application has been reviewed for consistency with Invest Atlanta goals, staff will evaluate and score the application.
- Invest Atlanta staff will present to the Committee its recommendation for funding.
- Upon approval for funding by the Committee, the developer will be notified by Invest Atlanta.
- The developer of approved development will be required to enter into an agreement which outlines the terms, conditions and covenants of the funding source, detailing the disbursement of proceeds.
- At Invest Atlanta’s sole discretion, a new application and fee may be required if a prior submission was inadequate based on the application submission guidelines.