Georgia

Some interesting news out of DeKalb County, GA courtesy of wsbtv. A grand jury has indicted three people for a scheme to take-over/steal foreclosed homes:

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Market Data, Atlanta, Fulton County, Georgia, 2011-03-19

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The Atlanta Housing Authority on Sunday imploded Roosevelt House, former public housing for senior citizens and disabled residents. With that and another building, the nation’s first city to try public housing projects now completes a 16-year effort to tear most of them down.

Read the full story here: Atlanta building — and old public housing model — demolished

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A recent article published by the national housing institute draws attention to a potential affordable housing shortage around Atlanta’s ambitious transit-oriented development project known as the BeltLine:

Projects like the BeltLine often produce increased transportation options, higher density development, and an array of amenities that enhance nearby neighborhoods. Often, they catalyze significant, positive change for all neighborhoods in the vicinity. However, the effects on lower income neighborhoods suffering from disinvestment are often magnified and rapid, with unintended effects on original residents.

Read the full article here: An Affordable BeltLine?

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Press release from the Federal Home Loan Bank of Atlanta

Federal Home Loan Bank of Atlanta Awards $42.7 Million for Affordable Housing Development
Funding will Create, Improve, or Preserve 4,841 Affordable Rental, Homeownership Units

Contact: Sharon Cook
Federal Home Loan Bank of Atlanta
e-mail: scook@fhlbatl.com
404-888-8173 (office)


ATLANTA, Jan. 14, 2011 —
Federal Home Loan Bank of Atlanta (FHLBank Atlanta) announced today that it will award $42.7 million to assist in the funding of 90 affordable housing projects in 11 states and the District of Columbia, as part of its 2010 Affordable Housing Program (AHP).

Locally-based for-profit and non-profit developers, in partnership with FHLBank Atlanta member institutions, will use $39.9 million of the funds to assist in the acquisition, new construction, rehabilitation, or preservation of 4,528 affordable rental and homeownership housing units in Alabama, Florida, Georgia, Maryland, North Carolina, South Carolina, Virginia and the District of Columbia. Partnerships in states outside of the Bank’s district including California, Louisiana, Michigan, and Texas will receive funds totaling $2.8 million to develop 313 housing units.

“For nearly 20 years, AHP funds have created valuable opportunities for member institutions, developers and community groups to partner and invest in affordable housing and community economic development,” said Wes McMullan, FHLBank Atlanta President and Chief Executive Officer. “The consistent performance and sound operation of AHP is clear evidence of the Bank’s continued commitment to this aspect of our mission.”

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