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First Wave of Affordable Housing Bonds Ratified in Atlanta
"The Atlanta City Council adopted legislation during Monday’s remote meeting to ratify the Mayor Keisha Lance Bottoms executive order directing the investment of $50 million in new bond funding for the production and preservation of affordable housing in Atlanta," according to an article published by The Atlanta Voice.
"The executive order directs the issuance of $50 million in bonds for affordable housing, which will be structured to take advantage of the current low-interest-rate environment," according to the article. "It also directs City officials to take the necessary actions to expand on these funds to ultimately issue $100 million in housing opportunity bonds."
Mayor Bottoms has made affordable housing a signature issue, promising the $100 million in housing bonds in August 2020 and later in the same year announcing the Atlanta City Design: Housing initiative to achieve new affordable housing supply through zoning reform. The action in 2020 builds on the Bottoms administration's One Atlanta Housing Affordability Action Plan announced in 2019. The Action Plan "calls for the creation or preservation of 20,000 affordable homes by 2026 and investing City-controlled public sources in the production and preservation of affordable housing," according to the article.