Tax Exempt Bond Financing ? Invest Atlanta

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
Invest Atlanta
133 Peachtree Street, Suite 2900
Atlanta, GA 30303
404-614-8290
aferguson@investatlanta.com
Link Click for more information.

Published : June 29, 2016   |   Category : Finance Toolbox