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Sunday, March 29, 2020

CITY OF ATLANTA: Mayor Keisha Lance Bottoms Issues Administrative Order Calling for Allocation of $100 Million in Bonds for Affordable Housing

Local Government

By Press release submission | Feb 18, 2020

Houseforsale

City of Atlanta issued the following announcement on Feb. 12.

Mayor Keisha Lance Bottoms issued an Administrative Order calling for the allocation of $100 million in Housing Opportunity Bonds to increase the supply of affordable housing in Atlanta.

“Building a housing inventory that working families and seniors can afford is a major component of our vision for One Atlanta,” said Mayor Bottoms. “These new public dollars will further our mission to create a more equitable and affordable city for all those who desire to call Atlanta home.”

Over the last two years, under Mayor Bottoms’ leadership, the City of Atlanta has invested nearly $252 million in public funds to help build and preserve affordable homes and provide housing assistance for over 3,500 Atlanta residents. These new funds will allow the City to do even more.

Last summer, the City released its Housing Affordability Action Plan, which includes strategies to achieve 20,000 units of affordable housing by 2026 through the Bottoms Administration’s One Atlanta vision. The goal is to invest $1 billion from public, private, and philanthropic sources to create new or preserve existing affordable housing opportunities -- $500 million in public resources and $500 million from community and philanthropic partners.

Mayor Bottoms directed Chief Financial Officer Roosevelt Council to conduct a financial evaluation to identify general fund resources to support the bond issuance, resulting in new funds for affordable housing.  

 “Our teachers, nurses, firefighters and other residents should be able to live in Atlanta without going broke,” said Mayor Bottoms. “The issuance of these Housing Opportunity Bonds will help make that possibility a reality.”

You can read Mayor Bottoms’ Administrative Order at this link

Original source can be found here.

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