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million investment augments citywide anti-displacement efforts
ATLANTA – Mayor Keisha Lance Bottoms unveiled today a new citywide initiative to strengthen affordable housing opportunities in the City of Atlanta to help low income residents avoid displacement. The initiative includes three unique Heritage Owner-Occupied Rehab (OOR) programs – which provide forgivable loans to residents to make critical health and safety repairs on their homes. The program is being implemented by Invest Atlanta with support from the Atlanta Housing Authority and Choice Atlanta.
“We must make a meaningful commitment to longtime residents who have built their homes and raised their families in the City, to ensure they will not be pushed out by rising property values,” said Mayor Bottoms. “The Heritage Owner-Occupied Rehab programs are major strides in demonstrating Atlanta’s continued commitment to preserving housing affordability for homeowners and renters alike. With public-private partnership programs like ORR, we can shape a future for Atlanta where your zip code does not determine your prosperity.”
Celebrating the announcement alongside Mayor Bottoms were members of the Atlanta City Council, Tim Keane, Commissioner, Department of City Planning, Dr. Eloisa Klementich, President and CEO, Invest Atlanta, Catherine Buell, President and CEO, Atlanta Housing Authority and Charlene Crusoe-Ingram, CEO, Meals on Wheels Atlanta.
“As Atlanta’s population continues to expand, we need to continually think about new ways to prevent displacement, maintain affordability and preserve the rich character and history of our communities,” said Dr. Eloisa Klementich, President and CEO of Invest Atlanta. “Atlanta Heritage follows our successful Owner-Occupied Rehab pilot program in the Westside and will provide critical assistance to more City of Atlanta residents. Ultimately, we want to ensure Atlanta sees balanced, equitable growth benefiting residents in neighborhoods throughout the city.”
Geared toward seniors, veterans, disabled heads of households, and families who have lived in their homes for at least five years, these Heritage programs will collectively reinvest more than million in areas such as the Westside TAD and Choice Neighborhoods. They include one citywide program, Atlanta Heritage, and two neighborhood-specific programs:
Atlanta Heritage: The million citywide program will provide up to ,000 to eligible City of Atlanta homeowners, and is funded under the Housing Opportunity Bond, a million bond issuance unanimously approved and supported by Atlanta City Council in March 2017;
Westside Heritage: The million OOR program is for residents in Westside TAD neighborhoods (Vine City, English Avenue and portions of Castleberry Hill), and is funded by the Vine City Trust Fund and Westside TAD tax increment financing;
Choice Neighborhoods Heritage: A million OOR program for residents in the Choice Neighborhoods (Ashview Heights and Atlanta University Center Communities) and is supported by a Choice Neighborhoods Implementation Grant, as well as City of Atlanta and Atlanta Housing Authority Moving to Work funds.
The Heritage OOR programs are part of Mayor Bottoms’ larger goal of investing billion from public and private sources to support affordable housing in Atlanta. Last month, Mayor Bottoms and the Westside Future Fund announced the Anti-Displacement Tax Fund Program, an initiative which will pay any property tax increases for qualifying homeowners in the English Avenue, Vine City, Ashview Heights and Atlanta University Center communities.
Information about the Heritage Owner-Occupied Rehab programs can be found at www.investatlanta.com/owneroccupiedrehab. Invest Atlanta is conducting citywide information sessions for residents starting March 10. A list of information sessions can be found on Invest Atlanta’s website. Program managers will begin accepting applications on April 3, 2018.