Quality affordable housing is fundamental to the future of the Atlanta that I envision. As an Invest Atlanta and Atlanta BeltLine board member, it allows me to have a real impact in making more affordable housing in a reality for Atlanta residents, including potential homeowners along the Atlanta BeltLine. The partnership between the Atlanta BeltLine, Inc. and the Federal Home Loan Bank (FHLB) is one example of that commitment.
Through the Atlanta BeltLine Housing Initiative Program (HIP) the Federal Home Loan Bank of Atlanta and Atlanta BeltLine, Inc. will provide down payment assistance up to $45,000 for homebuyers, and $25,000 in rehabilitation assistance for homeowners in targeted areas on the Westside Trail.
Last May, Invest Atlanta approved the sale of property on the BeltLine. I submitted an amendment to the sale that required all of the proceeds be used for affordable housing development on the Beltline. The money yielded from that sale will serve as the initial matching dollars necessary for the BeltLine to launch this partnership.
This is just one effort to ensure that affordable home ownership is an integral part of the solution in helping us to close the affordable housing gap in Atlanta.