DEPARTMENT
Community Development
REQUESTED ACTION (Identify appropriate Action or Motion, purpose, cost, timeframe, etc.)
title
Request approval of Atlanta Neighborhood Development Partnership's request to forgive the remaining balance of an existing HOME Investment Partnership program loan for the Delowe Village Apartments now versus the scheduled loan forgiveness date. Delowe Village is an affordable 64-unit apartment complex located at in East Point, Georgia. Forgiveness of the HOME loan is needed to support the redevelopment of Delowe Village which will create 96 new affordable housing units. (APPROVED UPON ADOPTION OF THE CONSENT AGENDA)
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REQUIREMENT FOR BOARD ACTION (Cite specific Board policy, statute or code requirement)
In accordance with the State of Georgia O.C.G.A 36-10-1, requests for approval of contractual agreements shall be forwarded to the Board of Commissioners for approval
STRATEGIC PRIORITY AREA RELATED TO THIS ITEM (If yes, note strategic priority area below)
Health and Human Services
COMMISSION DISTRICTS AFFECTED
All Districts ?
District 1 ?
District 2 ?
District 3 ?
District 4 ?
District 5 ?
District 6 ?
IS THIS A PURCHASING ITEM?
No
SUMMARY & BACKGROUND
Approve Atlanta Neighborhood Development Partnership's request to forgive the remaining balance of an existing HOME Investment Partnership program loan for the Delowe Village Apartments now versus the scheduled loan forgiveness date. Delowe Village is an affordable 64-unit apartment complex located at in East Point, Georgia. Forgiveness of the HOME loan is needed to support the redevelopment of Delowe Village which will create 96 new affordable housing units.
The HOME loan has a maturity date of October 8, 2043, and has a forgiveness schedule that allows $51,077 of the loan to be forgiven each year and the loan balance goes down to $0 on October 8, 2033. As of October 8, 2025, the outstanding HOME loan balance was $459,693.
Atlanta Neighborhood Development Partnership (AND...
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