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DeKalb commissioners approve $25M housing investment bond program and initial initiatives
Summary
The board unanimously approved a substitute resolution authorizing up to $25 million in taxable housing authority revenue bonds to seed a Housing Investment Bond program and approved companion initiatives for down‑payment assistance, multifamily gap financing, homeowner rehabilitation and homelessness response.
The DeKalb County Board of Commissioners on July 14 approved a substitute resolution authorizing issuance of taxable housing authority revenue bonds not to exceed $25 million to fund a Housing Investment Bond (HIB) program and also approved companion implementation actions to launch a set of initial programs.
Doctor Leroy Ferguson (chief housing officer) described program elements including a multifamily acquisition fund, gap financing for multifamily projects, a DeKalb HomeStart down‑payment assistance program with inflation adjustments, a homeowner rehabilitation program, blight‑to‑redevelopment efforts, and seed funding for housing capacity and homelessness response.
Commissioners requested and the substitute added annual and quarterly reporting requirements. Commissioner Long Spears and others praised the collaborative work between the board and central staff. The substitute carried unanimously when the machine vote was opened.
What happens next: staff will implement the initial HIB programs, administer initial allocations from the affordable housing fund and return with programmatic and financial updates (quarterly and annual reporting were discussed). The county also authorized delegated approval authority to program administrators consistent with adopted guidelines.
