The City of Atlanta Multifamily Housing Program provides financing for low-income rental housing within the Atlanta City limits. The program uses Home Investment Partnership Program (HOME) funds from the Department of Housing and Urban Development (HUD). To find out more about the HOME program, please visit the HUD Exchange.
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 Grants and Community Development, Office of Planning and Program Operations is responsible for the administration of the Multifamily Housing Program (MHP). In this capacity, the Office of Planning and Program Operations shall perform the following duties:
- Publicize 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.
- Make recommendations for funding or decline ineligible projects.
- Provide monitoring and compliance oversight for the HOME portfolio to ensure that all projects maintain affordability and other rules as mandated by HUD.
Multifamily HOME Loan Program
The purpose of the Multifamily Loan Program 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's annual allocation of funds changes from year to year but developers can request up to $60,000 per unit, not to exceed $800,000 per project in gap financing for eligible projects. Funding is limited and is subject to change.
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 a period of 5-20 years. Any organization in good financial standing, that have a viable project located within the City of Atlanta are 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. The OHCD is currently working to update the application for the Multifamily loan pool. The 2018 application includes all the essential elements of the application.
Please contact Ms. December Thompson, Assistant Director / Grants Service Manager @email@example.com or (404) 546-1856.
Please return completed applications in person to: City of Atlanta | Department and Community Development
55 Trinity Ave SW, Suite 3500 Atlanta, GA 30303
c/o: Housing & Real Estate Development Division