The city of Atlanta has created a new program that it hopes will strengthen affordable housing and help low-income residents avoid displacement.
The program will provide forgivable loans to residents to help them make critical health and safety repairs on their homes, the city announced March 9.
“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 in a press release.
Geared toward seniors, veterans, disabled heads of households and families who have lived in their homes for at least five years, these programs will collectively reinvest more than $9 million. They include one citywide program, Atlanta Heritage, and two neighborhood-specific programs, the release said.
The citywide program, the only that would apply to residents in Buckhead, is a $5 million program that will provide up to $30,000 to eligible city of Atlanta homeowners, and is funded under the Housing Opportunity Bond, a $40 million bond issuance unanimously approved and supported by Atlanta City Council in March 2017, according to the release.
An information session will be held in Buckhead April 14 from 9 to 11 a.m. at the Peachtree Hills Recreation Center, located at 308 Peachtree Hills Ave.
Applications will be accepted beginning April 4. For more information, visit Invest Atlanta’s website.