City of Atlanta Launches $50 Million Affordable Housing Trust Fund
The fund, seeded with proceeds from the sale of city-owned properties, will provide low-interest loans and grants to developers who commit to keeping units affordable for at least 30 years.
Marcus Webb
City Hall Reporter
1 min read
ATLANTA — Mayor Andre Dickens on Thursday announced the launch of a $50 Million Affordable Housing Trust Fund, the largest dedicated housing fund in the city's history.
The fund will be seeded with $30 million from the sale of surplus city-owned properties and $20 million in federal Community Development Block Grant funds. It will provide low-interest construction loans and operating subsidies to developers who commit to keeping units affordable for at least 30 years.
"We are in a housing crisis," Dickens said. "This fund is a down payment on our commitment to ensure that Atlanta remains a city where working families, teachers, nurses, and service workers can afford to live."
The fund will be administered by the Atlanta Housing Authority and will prioritize projects in neighborhoods with the highest rates of displacement.
About the Author
Marcus Webb
City Hall Reporter at Atl Daily Now