Friday, July 6, 2007
News Affordable housing, along the Beltline and nationwide
Posted by Mara Shalhoup on Fri, Jul 6, 2007 at 7:56 PM
Even as property along the Beltline — the 22-mile loop of transit and trails that will one day circle the city — is becoming more and more desirable (and more and more expensive!), there's a move afoot to make sure affordable housing along the project's path doesn't disappear.
The city is requiring that 15 percent of Beltline funds go toward work force housing. And because the Beltline is a multibillion dollar project, we're talking $240 million or so for the affordable housing cause — money that could create an estimated 5,600 housing units.
The Beltline Affordable Housing Advisory Board will discuss the initiative at a public meeting next Tues., July 10, from 4-6 p.m. at the Atlanta Development Authority, 86 Pryor St.
Timing for the meeting is good. Last week, a congressional bill that would create considerable funding for affordable housing was introduced — with (gasp) bipartisan support.
Here's what a July 3 New York Times editorial says about the National Affordable Housing Trust Fund Act:
Modeled on successful, state-level programs, the fund would be used to construct, rehabilitate and preserve 1.5 million units of housing over the next 10 years. The money ... would be parceled out to local jurisdictions that would then award grants to entities that build and rehabilitate housing. In exchange for trust fund dollars, a proportionate number of units would be set aside for low-income families. This would encourage healthy, mixed-income developments.
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