This resolution authorizes the Chief Financial Officer to allocate $17,000,000 from the Affordable Housing Trust Fund for Fiscal Year 2025. Of this, $8,000,000 is allocated for affordable housing production, $5,000,000 for housing security programs, and $4,000,000 for contingency reserves, debt service, and related transfers to Invest Atlanta and non-profit partners. The funding is part of the city's broader strategy to address affordable housing shortages, promote housing security, and meet the Mayor’s goal of building or preserving 20,000 affordable housing units by 2030.
This allocation from the Affordable Housing Trust Fund is crucial to ensuring the availability of affordable housing for Atlanta’s low- and moderate-income residents. It supports the city’s commitment to addressing housing insecurity, developing new housing units, and preserving existing affordable housing stock.