$100M: Mayor Bottoms Wants Funds Allocated For Affordable Housing

ATLANTA, GA — Mayor Keisha Lance Bottoms issued on Monday an Administrative Order that would allocate millions of dollars to create more affordable housing in Atlanta. The order calls for the allocation of $100 million in Housing Opportunity Bonds.

“Building a housing inventory that working families and seniors can afford is a major component of our vision for One Atlanta,” Bottoms said in a statement. “These new public dollars will further our mission to create a more equitable and affordable city for all those who desire to call Atlanta home.”

The City of Atlanta has invested nearly $252 million in public funds over the last two years to help build and preserve affordable homes and provide housing assistance for over 3,500 Atlanta residents. The new funds will allow the city to do more, according to the city.

Last summer, the City released its Housing Affordability Action Plan, which includes strategies to achieve 20,000 units of affordable housing by 2026 through the Bottoms Administration’s One Atlanta vision. The goal is to invest $1 billion from public, private, and philanthropic sources to create new or preserve existing affordable housing opportunities — $500 million in public resources and $500 million from community and philanthropic partners.

Bottoms directed Chief Financial Officer Roosevelt Council to conduct a financial evaluation to identify general fund resources to support the bond issuance, resulting in new funds for affordable housing.

“Our teachers, nurses, firefighters and other residents should be able to live in Atlanta without going broke,” Bottoms said. “The issuance of these Housing Opportunity Bonds will help make that possibility a reality.”