Voters in Atlanta and Fulton County voted overwhelmingly on Tuesday to increase their Homestead Exemption rates! Ballot initiatives affiliated with ANDP's Keep Atlantans in Their Homes campaign and two other initiatives supported by ANDP were passed on November 4.

Since the 1930's, local governments have offered homestead exemptions to help existing low and middle income families remain in their homes and communities by reducing their property taxes, especially during times of economic hardship. Unfortunately, Atlanta's homestead exemption has not kept pace with rising home prices. Home values have risen 130% since the Atlanta-Fulton Homestead was last increased in 1993.

ANDP provided the Georgia General Assembly's Atlanta-Fulton delegation with research on best practices on homestead exemptions across Georgia and the nation and worked with local delegation members to draft legislation to provide voters an opportunity to significantly increase their general homestead exemptions. A strong bipartisan coalition of Atlanta-Fulton Delegation members helped craft the final proposal which doubles the homestead exemption from $15,000 to $30,000 over a three-year phase-in period. The phase-in period provides critical relief to struggling homeowners in a way that minimizes the fiscal impact on local governments. 

“Foreclosures are decimating neighborhoods across metro Atlanta,” said John O’Callaghan, president and CEO of ANDP. “Inflated property taxes in these communities are burdening existing homeowners and preventing future buyers from bringing new life to vacant and abandoned homes.”  More        Full Report      News Coverage     ANDP's Foreclosure Response


If you would like to get involved, tell your story, or help in ANDP's advocacy efforts, visit our Action Center!
 

ANDP, ARC, DCA and ULI co-sponsor informational forum
HUD, DCA explain Neighborhood Stabilization Program

The foreclosure crisis has hit Georgia hard. Georgia posted the nation’s eighth highest state foreclosure rate in the second quarter of 2008 with one in every 140 households receiving a foreclosure filing. Metro Atlanta, which accounts for more than 80 percent of the state’s foreclosures, is suffering the greatest impact with one in every 91 metro households receiving a foreclosure filing in this most recent quarter (RealtyTrac).
 

The Housing Rescue and Foreclosure Prevention legislation signed by the President Bush on July 30 provides $3.9 billion in emergency assistance through Community Development Block Grant (CDBG) funds to communities hardest hit by the foreclosure and subprime crisis. The U.S. Department of Housing and Urban Development (HUD) has announced the formula allocations and guidelines for use of the emergency CDBG funds. The funds will be distributed to states and local governments no later than October 28 and must be used within 18 months of their receipt. This rapid distribution timeframe is unprecedented and calls for a well-coordinated state and regional response that will successfully maximize the funds to stabilize neighborhoods in peril. While not all local governments will be direct recipients of these federal funds, the entire region will be impacted. On Wednesday, October 8, nearly 60 municipal and county leaders convened at the Georgia-Pacific Auditorium to learn about allocations and the application process for the newly named Neighborhood Stabilization Program (NSP).

Mary Presley of HUD's Atlanta Regional Office explains the NSP program to forum attendees

Neighborhood Stabilization Program Allocations for Georgia   Location NSP Allocation Georgia DCA  $77,085,125 DeKalb  $18,545,013 Atlanta $12,316,082 Gwinnett $10,507,827 Fulton $10,333,410 Clayton $ 9,732,126 Cobb $ 6,889,134 Columbus-Muscogee $ 3,117,039 Augusta $ 2,437,064 Savannah  $ 2,038,631

The Metro Forum on the Neighborhood Stabilization Program was co-sponsored by ANDP, Atlanta Regional Commission, Georgia Department of Community Affairs, and ULI's Terwilliger Center for Workforce Housing

The forum was designed to provide the latest information on HUD’s formula allocation guidelines and instructions and to share local and national programmatic best practices. Information will be critical as state, county and city governments prepare to work with community partners to leverage existing programs and plan for and implement new initiatives to acquire, rehabilitate and repopulate the growing inventory of foreclosed properties.

More information on the NSF funds is available at Georgia DCAs website: http://www.dca.state.ga.us/communities/CDBG/index.asp

Presentations from October 8 NSP Forum:
►Frank Alexander, Professor of Law, Emory University School of Law
►Mary Presley, CPD Director, HUD Atlanta Regional Office
►Brian Williamson, Assistant Commissioner, Georgia Department of Community Affairs
►Alison Souther, Executive Director, Macon/Bibb County Land Bank
►Ernestine W. Garey, Managing Director, Housing Finance, Atlanta Development Authority
►Laurel L. Hart, Director of Office of Affordable Housing, Georgia Department of Community Affairs