The City of Atlanta Multifamily Housing Program provides financing for low-income rental housing within the Atlanta City limits. The program utilizes Home Investment Partnership Program (HOME) funds from the Department of Housing and Urban Development (HUD).
Home Funded Projects
The City awards HOME funds as low-interest loans to experienced for-profit, non-profit, and Community Housing Development Organizations (CHDO). HOME funds must assist in the acquisition, construction and rehabilitation of low-income rental housing. HOME funds serve as “gap financing” leveraging other sources of financing..
The Department of Planning through its Office of Housing and Community Development is responsible for the administration of the Multifamily Housing Program (MHP). In this capacity, the Office of Housing and Community Development shall perform the following duties:
- Market the program and receive applications from interested parties
- Analyze application information submitted by interested parties for compliance with the HOME/CDBG guidelines.
- Negotiate the project’s proposed package with applicant.
- Develop and implement changes in program design, policies, guidelines, and procedures consistent with the scope and intent of the program.
Multifamily HOME Loan Program
The Multifamily Loan Program purpose is to assist in the preservation of existing affordable rental units and to foster the production of new affordable units in the City of Atlanta. The City currently has approximately $1.5 Million in available funds and developers can request up to $60,000 per unit, not to exceed $800,000 per project.
As consideration for such financing, the City requires the recording of an affordability covenant that ensures the project typically remains affordable to lower-income tenants for 5-20 years. Any organization in good financial standing, that have a viable project located in the City of Atlanta is encouraged to apply. Click the links below for application information. This is a two part application process please access both the PDF and Excel files below.
Please return completed applications in person to:
City of Atlanta
Department of City Planning, Office of Housing and Community Development
68 Mitchell Street SW, Suite 1200
Atlanta, GA 30303
c/o: Housing Development Division
Please contact Ms. December Thompson if you have any questions or concerns at email@example.com or (404) 546-1856.