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Atlanta, GA

Resource Funding Type Public, Private or Philanthropic Administering Entity Eligible Dwelling Type(s) Eligible use(s) Affordability Requirements Geography Maximum Financial Assistance Other Specifications Application Timing Links for more info
  What type of financial assistance does this resource provide? What is the origin of monies awarded in terms of public, private, or philanthropic funds? Who administers this resource? What types of properties are eligible for financing? What kinds of projects can this finance? What level of affordability must be provided by the project? What income brackets does the funding source seek to target? In which areas is the funding source available? Can it be applied statewide, across the city, or in specially designated areas within the city? What is the maximum amount of financial assistance able to be provided per project? Is there information that sets apart this financial resource? Is there information that clarifies the process or mechanism? Is the application available continuously, annually, or at specific times throughout the year? Where can I find this and possibly more information on the financial resource?
Options Equity, Debt, Grant, Tax Abatement Public, Private, Both   single-family, multifamily New Construction, Preservation, Low-Income   State of GA, Atlanta, No geographic restrictions        
Low Income Housing Tax Credit (LIHTC) 4% Equity Public Georgia Department of Community Affairs (DCA) Multiple types: single-family, multifamily, small multifamily. Note that LIHTC is typically best suited for larger MF. 4% LIHTC in GA would typically require an assemblage of SMMF for the deal to pencil. New Construction or Preservation. 15 year initial affordability +15 year extended use period. Qualified Contract opt out option. 20-50 Minimum Tax Credit Set-Aside: At least 20% of units affordable at 50% AMI or less. 40-60 Minimum Tax-Credit Set-Aside: At least 40% of units affordable at 60% AMI or less. No geographic restrictions. Based on LIHTC eligible basis, yielding approximately $5 million in equity for 100 unit project.   Rolling application process. Application submission no later than 75 days before bond closing (fee not required at application if submitted with pre-application). Annual QAP documentation can be viewed online at www.dca.ga.gov.
Low Income Housing Tax Credit (LIHTC) 9% Equity Public Georgia Department of Community Affairs (DCA) Multiple types: single-family, multifamily, small multifamily. Note that LIHTC is typically best suited for larger MF, but could be utilized for properties of 40-50 units potentially. New Construction or Preservation. 15 year initial affordability +15 year extended use period. Qualified Contract opt out option. 20-50 Minimum Tax Credit Set-Aside: At least 20% of units affordable at 50% AMI or less. 40-60 Minimum Tax-Credit Set-Aside: At least 40% of units affordable at 60% AMI or less. No geographic restrictions. Up to $950,000 credits per project, based on LIHTC eligible basis, yielding approximately $14 million in equity for a 100 unit project. DCA will not award more than $1,000,000 of Credits to any project in the competitive round. Applicants will be limited to direct or indirect Ownership/Development interest in a maximum of two (2) selected projects. Applications in May of each year. Annual QAP documentation can be viewed online at www.dca.ga.gov.
HOME Investment Partnerships Program (HOME) - Statewide Soft Debt Public Georgia Department of Community Affairs (DCA) Multifamily rental housing developers apply to DCA for HOME funds during the annual competitive 9% tax credit application round. CHDO set aside also offered. New Construction or Preservation. 20 year affordability period. State of GA.   Different jurisdictions may have varied amounts of and information regarding available HOME funding directly from that local jurisdiction(City or County). Jurisdictions belonging to the five-county metro Atlanta region are Fulton, Dekalb, Cobb, Gwinnett, and Clayton counties. It is advisable to inquire with the appropriate jurisdiction directly to determine the availability of program funds. Based upon funding availability; typically in alignment with LIHTC. https://www.dca.ga.gov/safe-affordable-housing/rental-housing-developmen... Fulton http://www.co.fulton.ga.us/fchcd-home Dekalb https://www.dekalbcountyga.gov/community-development/community-development Cobb https://www.cobbcounty.org/community-development Gwinnett https://www.gwinnettcounty.com/web/gwinnett/departments/financialservice... Clayton http://www.claytoncountyhud.com/
National Housing Trust Fund Soft Debt Public Georgia Department of Community Affairs (DCA)   Provision of affordable housing for low-income or extremely low-income populations including homeless populations. In the cases when funding granted to the state exceeds $1 billion, the grantee must use 75% of funds for the benefit of extremely low-income households. All funds not used for the benefit of extremely low-income households must serve households between 30% and 50% AMI. No geographic restrictions.     Based upon funding availability. https://www.dca.ga.gov/safe-affordable-housing/rental-housing-developmen...
Tax Exempt Bond Financing Debt Public Invest Atlanta Multifamily - typically larger projects due to the fee structure. Rental properties, in alignment with 4% LIHTC. New construction, acquisition, or rehabilitation. Conversion of an existing property not being used for housing. Affordability Requirements: 40% of units must be set aside for persons at 60% AMI or less or 20% of units set aside for persons at 50% AMI or less. 15% of units must be set aside for market-rate tenants with no income restrictions. City of Atlanta. Dependent on project size. Minimum of 75 units and $5,000,000 in Total Development Costs. Any tax-exempt bond funds allocated pursuant to this program must be used to provide permanent financing for development. Available now. As of August 2018, interested developers are required to submit the application by the first Friday of the preceding month. https://www.investatlanta.com/developers/opportunities-incentives/reside...
Housing Opportunity Bond Financing Below Market Debt Public Invest Atlanta Single-family and multifamily. New construction, acquisition, or rehabilitation. Conversion of an existing property not being used for housing. Affordability: Developments must contain set asides of at least 20% of the units of comparable size and finish of the market rate units to persons at 60% of AMI. 15% of units must be set aside for market rate tenants. Affordability period is greater than fifteen years or as long as the loan is outstanding. City of Atlanta. Loan may not exceed the lesser of $25,000 per affordable unit or 20% of the capital stack (excluding fees paid to a developer or its affiliates). Funds may be leveraged with conventional, bond, or other public or private financing. Pending funding availability. https://www.investatlanta.com/developers/opportunities-incentives/reside...
Housing Opportunity Bonds (CHDO Set-Aside) Below Market Debt Public Invest Atlanta Single-family and multifamily. New construction, acquisition, or renovation. Affordability: At or below 100% AMI for a family of two or less and 115% AMI or below for families of three or more for homeownership projects. 20% set-aside for 60% AMI or below for rental housing projects. Affordability period is greater than 15 years or loan is paid off. City of Atlanta. URFA encourages developers to plan/develop projects in the following areas: Economic Development Priority Areas; Qualified Census Tracts; Difficult to Develop Zones; Within .25 Miles of MARTA Mass Transit, Atlanta Streetcar, or Atlanta BeltLine; Within a Tax Allocation District (TAD). Funds may not exceed 50% of total capital expenditures (excluding fees paid to CHDO or its Affiliates). Must be a CHDO designated by the City of Atlanta as of January 1 of the year in which the loan application is submitted. CHDO must act as owner, developer, or sponsor of the project. CHDO must have a 25% profit interesting the development to be a sponsor. Pending funding availability. https://www.investatlanta.com/developers/opportunities-incentives/reside...
Atlanta BeltLine Affordable Housing Trust Fund (BAHTF) Equity/Grant Public Invest Atlanta Single-family and multifamily. New construction, acquisition, or renovation. Must provide units affordable to populations at or below 60% AMI. BeltLine Tax Allocation Districts (TADs), City of Atlanta Funds may not exceed 30% of the total development costs with a cap of $2 million per multifamily development. Projects involving a combination of nonprofit organizations with for profit partners and investors, adhere to the Atlanta BeltLine Design Guidelines, have affordable rental units for persons at or below 30% of AMI and market to public servants (city, county, Atlanta Public School employees) and City of Atlanta residents will be given top priority. Pending funding availability. https://www.investatlanta.com/developers/opportunities-incentives/reside...
Vine City Trust Fund Financing   Public Invest Atlanta Single-family and multifamily. New construction, acquisition, or rehabilitation. Conversion of an existing property not being used for housing. Affordability: For sale housing that sets aside a minimum of 20% of the homes in the development must be marketed and sold to families of two or less not to excess of 100% of AMI and 115% AMI for 3 or more with purchase price less than $252,890 or current 203 FHA limit. 20% set aside for a population at or below 80% of AMI for rental housing projects. Provide for long-term affordability provisions of 15 years or more for rental; 10 years for single family. The target area for the Trust Fund is the area bounded by Donald Lee Hollowell Parkway on the north; Joseph Lowery Boulevard on the west; Martin Luther King Jr. Drive, Walnut Street and Beckwith Street as extended to Walker Street on the south and Walker Street, Martin Luther King Jr. Drive and Northside Drive on the east (map at https://www.investatlanta.com/assets/vinecityfund_mp3ED1B.jpg) Funds cannot exceed 50% of the capital stack or $1.5 million. The repayment dollars for these loans revolves into a program income account and is used to make additional loans for eligible housing development in Vine City and English Avenue. Pending funding availability. https://www.investatlanta.com/developers/opportunities-incentives/reside... https://www.investatlanta.com/assets/vinecityfund_mp3ED1B.jpg
HomeFirst Supportive Housing Fund Subsidy - Grant Both Philanthropic and Public Invest Atlanta Single-family and multifamily. Supportive housing.   City of Atlanta. $40,000 per unit; operating assistance; HomeFlex. All investments must be aligned with ClearPath, the 5-year strategic plan to make homelessness in Atlanta rare, brief, and nonrecurring, which was adopted by the community and the Atlanta City Council. No investments will be made that have not been submitted to and recommended by the HomeFirst Allocation Committee. Available now. https://partnersforhome.org/homefirst/ https://partnersforhome.org/wp-content/uploads/2017/12/Partners-for-HOME...
Ascension Fund Grant Grant Public Invest Atlanta Single-family and multifamily. New affordable and workforce residential development located along or adjacent current or future Atlanta Streetcar routes, existing MARTA stations and/or bus stops, and the Eastside historic neighborhoods of Sweet Auburn, Old Fourth Ward, North Grant Park (Memorial Drive), and South Downtown (south of Marietta Street). Or the Westside historic neighborhoods of Castleberry Hill, English Avenue, Vine City, and South Downtown (south of Marietta St. and west of Forsyth St.). Reuse of historic, vacant, or obsolete properties and redevelopment of parking lots into activity-generating uses, including residential uses. For-rent residential components of five units or more must set aside at least 20% of units as affordable to households at or below 80% AMI, or at least 15% of units as affordable to households at or below 60% AMI. For-sale residential components of five units or more must set aside at least 20% of units as affordable to households at or below 120% AMI. Project must occur within the boundaries of Atlanta's Eastside or Westside Tax Allocation Districts (TAD). Maximum funding is up to 10% of project costs, not to exceed $3M. Projects creating 20 or more units of affordable housing may be awarded maximum funding up to 10% of project costs, not to exceed $4M. Required minimum project size of $7.5M. Available now. https://www.investatlanta.com/assets/eastside_tad_program_guidelines_oct... https://www.investatlanta.com/assets/westside_tad_program_guidelines_sep...
Resurgens Fund Grant Grant Public Invest Atlanta Single-family and multifamily. New affordable and workforce residential development located along or adjacent current or future Atlanta Streetcar routes, existing MARTA stations and/or bus stops, and the Eastside historic neighborhoods of Sweet Auburn, Old Fourth Ward, North Grant Park (Memorial Drive), and South Downtown (south of Marietta Street). Or the Westside historic neighborhoods of Castleberry Hill, English Avenue, Vine City, and South Downtown (south of Marietta St. and west of Forsyth St.). Reuse of historic, vacant, or obsolete properties and redevelopment of parking lots into activity-generating uses, including residential uses. For-rent residential components of five units or more must set aside at least 20% of units as affordable to households at or below 80% AMI, or at least 15% of units as affordable to households at or below 60% AMI. For-sale residential components of five units or more must set aside at least 20% of units as affordable to households at or below 120% AMI. Project must occur within the boundaries of Atlanta's Eastside or Westside Tax Allocation Districts (TAD). Projects with less than $3M in total costs are eligible for grants up to the amount of 25% of total costs. Projects greater than $3M but less than $7.5M are eligible for a maximum of $750,000. Required minimum project size of $100,000 and a maximum of $7.5M. Available now. https://www.investatlanta.com/assets/eastside_tad_program_guidelines_oct... https://www.investatlanta.com/assets/westside_tad_program_guidelines_sep...
Community Empowerment Fund Grant Public Invest Atlanta Single-family and multifamily. Provision of workforce and/or affordable housing, among other eligible purposes. For-rent residential components of five units or more must set aside at least 20% of units as affordable to households at or below 80% AMI, or at least 15% of units as affordable to households at or below 60% AMI. For-sale residential components of five units or more must set aside at least 20% of units as affordable to households at or below 120% AMI. Projects must occur within boundaries of Atlanta's Eastside Tax Allocation District (TAD). 40% of project costs not to exceed $1.5M. Projects creating 20 or more units of affordable housing are eligible for a maximum grant of 40% of project costs, not to exceed $3 million. Rental affordability compliance period is at least 15 years. Available now. https://www.investatlanta.com/assets/eastside_tad_program_guidelines_oct...
Lease Purchase Bonds Property Tax Abatement Public Invest Atlanta Multifamily. Property tax abatement for new capital investment leading to job creation/retention and workforce housing in the City of Atlanta. Note: there is a minimum project size of $10 million, so it is rare that a SMMF preservation project is eligible for this financing (unless an exception to this requirement is made). All Applicants with Projects having a multifamily rental housing component must reserve or set aside at least ten percent (10%) of the housing units of the Project for tenants earning at or below sixty percent (60%) AMI or fifteen percent (15%) at eighty percent (80%) AMI. City of Atlanta. Property tax abatement. Begins at 50% ad valorem taxes due the first year, with a 5% ramp up each year until year 11, when full taxes are due. Ten year term. Available now. https://www.investatlanta.com/businesses/medium-large-businesses/bonds-l...
HOME Investment Partnerships Program (HOME) Below Market Debt Public City of Atlanta Multifamily. New construction, acquisition, or rehabilitation. Affordability: All units receiving HOME assistance must be occupied by households earning 80% AMI or less. 20% of HOME assisted units must be affordable to households earning 50% AMI or less, and 20% of HOME assisted units must be affordable to those earning 60% AMI or less. City of Atlanta. Up to $40,000 per HOME assisted unit. Projects must have a minimum of 5 HOME assisted units. Available now. https://www.atlantaga.gov/government/departments/city-planning/office-of...
Community Development Block Grant (CDBG) Program Soft Debt Public City of Atlanta Broad applicability not limited to housing. CDBG funding cannot be used for new construction except in rare cases. Housing projects funded by CDBG must serve populations at or below 80% AMI. No geographic restrictions. Grants up to $300,000, or grants for single activity housing projects - no matching funds required. Grants of $300,001 to $750,000 for single activity projects - 5% local matching funds required.     https://www.atlantaga.gov/government/departments/city-planning/office-of...
Multifamily HOME Loan Program Debt Public City of Atlanta Multifamily. Acquisition, construction, and rehabilitation of residential buildings. All units funded with HOME in the City’s Multifamily Housing Program must benefit households with incomes at or below 50% of the area median income and the property must be located within the Atlanta City limits. Affordability requirements remain on the property for 5 to 20 years (affordability covenant with the city). Projects must meet at least one of the following Multifamily Housing Program Priorities: Housing units affordable to households at 30% AMI or below, units within 0.5 miles of a MARTA train station, units located within 0.5 miles of a BeltLine TAD boundary, units located in tier one/tier two displacement risk zones, housing units located in the targeted area of opportunity, projects with less than 40 units. City of Atlanta. Developers can request up to $60,000 per unit, not to exceed $800,000 per project in gap financing for eligible projects. Annual allocation of funds changes.   Available now. https://www.atlantaga.gov/government/departments/city-planning/office-of...
City of Atlanta Housing Enterprise Zone (a type of Urban Enterprise Zone) Property Tax Abatement Public City of Atlanta Single-family and multifamily. New construction or rehabilitation of housing. 20% of units affordable to households at or below 60% AMI. 20% of the units for rent shall be available to households at or below 30% AMI. 20% of the units for sale will be marketed at purchase prices at no more than 2.2 times the Atlanta Metro AMI. 5% of all vacant units shall be available to Atlanta Police Officers and their families, regardless of their household incomes. City of Atlanta. The parcel must not be located within an existing Tax Allocation District (TAD). The property must be located in one of the Economic Development Priority Areas as adopted in the New Century Economic Development Plan, OR: The area in which the property is located must meet three out of the five the following locational criteria: 1) Evidence of pervasive property, 2) Higher than average unemployment, 3) General distress, 4) Underdeveloped, or 5) General blight. Tax abatements are allowed on the assessed value of improvements (new development or renovations) only. Maximum percentage of tax abatement begins at 100% from years 1-5 after the first year of Urban Enterprise Zone (UEZ) designation and occurs via a sliding scale of reduced percentages close to annually. Full taxable value is restored at Year 11. Years 1-5: 100% Years 6-7: 80% Year 8: 60% Year 9: 40% Year 10: 20% Year 11 (after UEZ ends): 0% 100% tax abatements within the first five years of enterprise zone designation will only be awarded for housing enterprise zones where the value of the improvements exceed the value of the land by a factor of eight times or more. Available now.

http://www.atlantaga.gov/Home/ShowDocument?id=9844

https://www.atlantaga.gov/government/departments/city-planning/office-of...

HomeFlex ( Project Based Rental Assistance) Project Based Rental Subsidy Public Atlanta Housing Based upon NOFA. This program encourages private real estate developers and owners to develop and/or provide affordable housing in quality mixed-income rental communities. AH and the owner enter into a time-certain HomeFlex Agreement to provide rental assistance to eligible residents in the HomeFlex units covered by AH's commitment. Conditions of affordability, geography, and other requirement vary per NOFA/RFP. Conditions of affordability, geography, and other requirement vary per NOFA/RFP. Case-dependent. Notice of Funding Availability (NOFA) varies by time period and target geography.   Applications may be submitted at any time as per NOFA/RFP. https://www.atlantahousing.org/doing-business-with-ah/
Community Development Financial Institutions (CDFI's) Varies Private CDFI's operating in Atlanta and the Atlanta region, or with funding programs able to applied in those geographies. CDFI's include: Enterprise Community Loan Fund Atlanta Neighborhood Development Partnership (ANDP) Low Income Investment Fund (LIIF) Local Initiatives Support Corporation(LISC) Reinvestment Fund Neighborhood Lending Partners (NLP) Varies by program. Predevelopment, acquisition, bridge financing, with some limited permanent financing, typically. Varies by program. Varies by program. It is advisable to contact the CDFI responsible for administering the desired funding program. Varies by program. Typically there are no strict geographic restrictions but funding programs are generally applied to the city or city region. Varies by program.   Varies.  
Tax Extinguishment   Public Fulton County/City of Atlanta Land Bank Authority   The Board of the Land Bank Authority selectively utilizes this power to promote the creation of affordable housing, contribute to improved commercial activity and assist governmental entities with their development efforts. Housing must be available to households of 80-120% AMI or below. Distressed and transitioning neighborhoods within the City of Atlanta.   State authorized tax extinguishment program; action is helpful to clear title and return property to productive and tax-producing use to be used in delivery housing. Available now.  
Federal Home Loan Bank Affordable Housing Program (AHP) Grant Private Federal Home Loan Bank of Atlanta Single-family and multifamily. New construction, acquisition, and rehabilitation. Subsidized units must serve households earning 80% AMI or below. Rental projects are required to ensure that 20% of total units are for households at or below 50% AMI. Secured with a note and security instrument to ensure compliance through the affordability period: • 15 years for rental • 5 years for ownership No geographic restrictions. Up to $500,000 per project. The application process is a competitive, scoring-based program. Applications are submitted through an online portal with FHLBank Atlanta member financial institutions. Application schedule varies by year. Application period is about a month-long from opening to deadline, but will be 8 weeks in 2020. http://corp.fhlbatl.com/files/documents/AHP-Competitive-Brochure.pdf http://corp.fhlbatl.com/files/documents/ahp-implementation-plan.pdf http://corp.fhlbatl.com/
Federal Rehabilitation Investment Tax Credit (RITC) Equity Public Georgia Historic Preservation Division (HPD) and the National Park Service (NPS) The Georgia HPD also operates as the State Historic Preservation Office (SHPO)   Equity for acquisition or major rehabilitation of historically significant properties. Property must be on the National Register of Historic Places. Only properties utilized for income-producing purposes can take advantage of the credit. No specific affordability requirements. No geographic restrictions. 20% of qualified rehabilitation expenditures. Developer is required to abide by design and construction regulations to preserve historic features as determined by the Historic Preservation Division (HPD) of the Georgia Department of Natural Resources (DNR). Available now. https://georgiashpo.org/sites/default/files/hpd/pdf/financial_and_techni...