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 Standing
together for Atlanta
New initiative takes target at foreclosure
crisis
The foreclosure crisis continues to threaten the
health and vitality of our region. Metro
neighbors are losing their homes in record
numbers each month. Georgia ranks sixth
nationwide in foreclosure filings. More than
13,000 Metro homes were repossessed in the first
six months of this year, an increase of 29
percent over the same period last year. Metro
Atlanta was named by Forbes as one of the
nation’s emptiest cites due to mounting
residential vacancies. Now is the time to gather
our collective expertise, strength, resources
and spirit in a united response to curb the
crisis and reclaim our neighborhoods.
On Tuesday, November 30 a collaborative team of
Atlanta and national organizations launched a
multiyear initiative entitled "Piece by Piece"
with the goal of spurring strategic action from a
diverse spectrum of regional stakeholders to
fight the foreclosure crisis.
MORE
It's the best feeling in the world
NSP homebuyer
is... finally home!
First-time homeowner Teresa recently purchased a
newly-rehabbed, foreclosed home with $14,500 in
down payment assistance under the Rockdale
County Neighborhood Stabilization Program (NSP),
a federal initiative to stabilize communities
that have suffered from foreclosures and
vacancies. Teresa is a credit analyst at
Coca-Cola Bottlers Association.
MORE
Saving lower income
families in Atlanta/Fulton $36.2
million
Impact of ANDP's Property Tax
study, Homestead Exemption
In an effort to keep Atlantans
in their homes, ANDP has been
engaged in two critically
important policy issues in the
last two years. In 2008, we led
a successful effort to increase
Homestead Exemption rates in the
City of Atlanta and Fulton
County - working with key state
legislators and many others.
Voters overwhelmingly approved
the measure that doubled the
existing rate over a three year
period. In late 2008, ANDP
commissioned RCLCO - a national
real estate advisory firm - to
conduct a series of studies to
examine the disconnect between
fair market values and property
tax assessments in high
foreclosure neighborhoods. What
is the impact of ANDP's work in
these areas?
According to an analysis by
RCLCO, ANDP's tax policy efforts
thus far will save lower-income
families (at 80 percent or below
of area median income) in the
City of Atlanta/Fulton County a
minimum of $36.2 million for an
average annual savings of $1,013
per household by 2011.
READ THE FULL REPORT
Metro Atlanta Housing Crisis
ANDP Foreclosure Response
Efforts
In 2007, the ANDP Board of
Directors approved a shift in
our organizational focus to one
of Foreclosure Response. Since
this time, our development,
finance and advocacy programs
have all had one primary focus:
to help our neighborhoods and
families in need. Above you will
find the latest news on our
efforts in each of our three
primary lines of business. The
implosion of the housing
industry and financial markets
has placed a tremendous burden
on every neighborhood in our
region. As an organization, we
will work tirelessly to address
these issues and leverage all
available resources to keep our
families in their homes. We are
very thankful for those
individuals, corporations and
foundations who continue to
support this critical work. We
invite you to stay connected to
our work and lend a hand when
possible.
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