New financing framework diversifies funding opportunities, strengthens long-term financial stability and supports affordable housing development pipeline
ATLANTA – The Atlanta Housing Board of Commissioners unanimously approved the Housing Development and Preservation Financing Bond Program, establishing a new financing framework designed to support the creation, preservation and acquisition of affordable housing while diversifying the agency’s funding opportunities.
The program creates a structure through which Atlanta Housing can issue, administer and manage multifamily debt financing to support affordable housing initiatives. The framework is intended to strengthen organizational sustainability, reduce reliance on a single funding source and provide additional tools to advance affordable housing development opportunities throughout Atlanta.
“By approving the Housing Development and Preservation Financing Bond Program, our Board of Commissioners have taken a critical step in strengthening our ability to create and preserve affordable housing for current and future generations,” said Terri M. Lee, President and CEO of Atlanta Housing. “This flexible, mission-aligned financing framework will enhance Atlanta Housing’s long-term financial resilience and increase our capacity to pursue investments that benefit communities across Atlanta.”
“This program reflects a disciplined and deliberate approach to expanding Atlanta Housing’s financing capabilities,” said Abdel Altamimi, Chief Financial Officer of Atlanta Housing. “Our framework aligns with our strategic objectives, maintains strong financial stewardship and provides the flexibility to pursue affordable housing development and preservation financing opportunities, all while ensuring appropriate oversight and accountability.”
The bond program supports several financing tools, including governmental and essential-function bonds, 501(c)(3) bonds, taxable bonds and exempt-facility bonds. While the framework provides flexibility to utilize each of these financing options as appropriate, Atlanta Housing’s immediate focus will be on essential-function bonds. Atlanta Housing anticipates utilizing the framework to evaluate financing opportunities based on project needs, affordability objectives and long-term public benefit.
ABOUT ATLANTA HOUSING
President and Chief Executive Officer Terri M. Lee leads The Housing Authority of the City of Atlanta, Georgia (AH), the largest housing authority in Georgia and one of the largest in the nation. AH carries the prestigious Moving to Work (MTW) designation and serves as an industry leader in providing and facilitating affordable housing resources for nearly 27,000 low-income households comprised of approximately 43,000 people through its AH-owned residential communities, tenant-based and project-based vouchers, supportive housing, as well as down payment assistance, where innovation leads the approach to making the dream of homeownership attainable for more Atlantans. Atlanta Housing programs are funded by the U.S. Department of Housing and Urban Development.
Visit AH at www.atlantahousing.org or follow us on social media @housingatlanta.