Notice of Funding Availability
Background: We are the Housing Authority of the City of Atlanta, Georgia (Atlanta Housing or AH). We are looking for landlords to help us add affordable housing to the area within the University Choice Neighborhood (UCN) boundaries. UCN includes the former University Homes, Ashview Heights, the Atlanta University Center and Vine City.
Atlanta Housing is willing to consider offering interested private landlords rental subsidies through its HomeFlex program which provides housing assistance to families. Landlords participating in HomeFlex have a contractually guaranteed source of reliable income and Atlanta Housing assistance regarding routine landlord/tenant issues. HomeFlex requirements are set forth in a HomeFlex Agreement between Atlanta Housing and landlords. Atlanta Housing’s Real Estate Group provides a rent subsidy, financial management, oversight and monitoring activities with respect to HomeFlex units in each HomeFlex rental community.
Purpose: Atlanta Housing anticipates receiving applications from landlords of individual properties suitable to house families of 3 – 5 persons with a minimum of 8 units ready to lease. AH will also consider Landlords who can bundle several units in proposed clusters within the UCN boundaries.
Landlords who can provide residential units through existing housing or repurposing of other existing buildings located in the UCN Boundaries, and are qualified and interested in receiving HomeFlex for their rental units, may submit an application at any time. If an application is approved and provided funding through HomeFlex, then AH will execute a Commitment Letter for an initial term of anywhere from five (5) to Twenty (20) years with options for possible extensions. If Atlanta Housing provides capital assistance for rehabilitation work at the property, Atlanta Housing will require a restrictive covenant on the property for a term of 30-40 years. AH also anticipates notifying Landlords within 30 days of AH’s receipt if application if is not awarded HomeFlex with specific rationale for why award was not made. AH reserves the right to cancel or discontinue its application process for HomeFlex for existing housing units within the UCN Boundary at any time throughout the duration of this NOFA if determined to be in the best interest of AH to do so.