Atlanta City Council passes $40 million housing opportunity bond

The Atlanta City Council recently approved an ordinance authorizing the city to issue the final $40 million of the Housing Opportunity Bond. The bonds will be used to fund homeowner renovations, multifamily loans, single family loans, nonprofit development loans and land assemblage for affordable and workforce housing development.

The legislation was introduced by Atlanta City Councilmember Michael Julian Bond and co-sponsored by all members of the Atlanta City Council.

“This is tremendous step forward in securing affordable housing for the residents of Atlanta. I want to compliment our mayor for having the vision to pursue this as we collectively work with Invest Atlanta, housing advocates and citizens to shape the Atlanta that we should, and ought to have in the future,” Councilmember Bond said. “This is a huge first step and a tremendous victory for affordable housing and our initiative in combating homelessness. Yet, there is still more that needs to be done. This will be a catalyst in maximizing our collective effort.”