|Sponsor Eligibility||Developer must have experience commensurate with scope of project and financial capacity.|
|Types of Projects Funded||New Construction or Acquisition and Rehabilitation.
Minimum of 75 units and $5MM in Total Development Costs.
Any tax-exempt bond funds allocated pursuant to this program must be used to provide permanent financing for the development.
City of Atlanta only.
Can be coupled with 4% Tax Credits.
|Affordability Requirements||40% of units must be set aside to persons at 60% AMI or 20% of units set aside at 50% AMI.
5% of units must be set aside for market rate tenants with no income restrictions.
Affordability period is the greater of 15 years or as long as bonds are outstanding.
|Funds Available Per Project||Dependent on project size.
Tax exempt bonds provide low interest rates on borrowing.
|Primary Contact||Alan Ferguson
Vice President, Housing and Special Initiatives
Community Development Division
133 Peachtree Street, Suite 2900
Atlanta, GA 30303
|Link||Click for more information.|