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Committee approves funding agreements and bridge loan for affordable housing on public land
Summary
The committee authorized a $500,000 FY26 payment (with $1.5 million reserved for FY27) to the Atlanta Urban Development Corporation and approved an IGA to support a $10 million Truist term loan and bridge financing intended to preserve hundreds of affordable units, including deeply affordable homes at 30% AMI.
The Community Development & Human Services Committee approved several measures aimed at accelerating affordable-housing development on publicly owned land.
An amended intergovernmental agreement (IGA) authorizing the mayor to provide AUDC (Atlanta Urban Development Corporation) with up to $500,000 in FY26 and to reserve $1,500,000 in FY27 from the Affordable Housing Trust Fund passed unanimously in committee. City staff said the initial payments are to sustain AUDC operations as it advances…
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