The budget Atlanta City Council unanimously approved Monday includes $17 million for the city’s Affordable Housing Trust Fund to help low-income people get into safe and affordable housing.
Atlanta’s water crisis largely overshadowed the items on the council’s agenda. But in a surprise visit to council chambers to update members, Mayor Andre Dickens commended them for passing his $2.75 billion budget proposal for the Fiscal Year 2025.
“This budget represents our shared vision for Atlanta, as well as our hopes of a city of opportunity for all,” he said. “Thanks to your partnership, we were able to continue our investments in our people, our employees, our public safety, our affordable housing, and our infrastructure.”
In a letter to the council in May, Dickens said the $17 million in funding would go toward the Housing Help Center which opened in 2023, and offers resources to help people rent and buy homes.
Dickens cited the city’s efforts to build and maintain new housing including a development at Two Peachstreet which would turn vacant office space into affordable housing in proximity to jobs and transit. The city and its economic development arm Invest Atlanta are transforming the skyscraper and adjacent property on Marietta Street into a mixed-use project.
“We have aggressively pursued both new construction and retrofits on city-owned and privately held land and buildings,” he wrote.
Atlanta City Council passed legislation in July 2023 to fully fund the affordable housing trust fund for the first time since it was created in 2021. The city approved the measure to transfer an additional $3.5 million from the general fund for the Fiscal Year 2024 budget.
Three years ago, the city approved legislation to create recurring local funding for the affordable housing trust fund, earmarking 2% of the City of Atlanta general fund budget to be phased in over three years.
The legislation called for 1% of the general fund budget for Fiscal Year 2023, 1.5% for Fiscal Year 2024, and 2% for the Fiscal Year 2025. The fund received $7 million for FY23 and $11.5 million in FY24, according to Atlanta Civic Circle.
Dickens wants to build or preserve 20,000 units of affordable housing by 2030. The city hopes to reach that goal using $300 million of public and private investment.
