(ATLANTA, Ga.) After weeks of deliberation, the Atlanta City Council approved legislation to amend the City Charter and establish an annual fund for affordable housing initiatives in Atlanta. The housing initiative was approved during the council’s Monday meeting (Legislative Reference No. 21-O-0777).
The new amendment will direct two percent of the general fund toward affordable housing each fiscal year by creating the “Building the Beloved Community Affordable Housing Trust Fund.” Funds will be phased in over a three-year period at the beginning of each fiscal year. This will include 1 percent for the Fiscal Year 2023, one and one-half percent for the Fiscal Year 2024 and two percent for the Fiscal Year 2025.
Due to affordable housing being a charter amendment, legislation required two adoptions by the Council. Monday’s vote was the final adoption.
The ordinance was approved by councilmembers Matt Westmoreland, Carla smith, Joyce m. Sheperd, Marci Collier Overstreet, Andrea L. Boone, Michael Julian bond, Dustin R. Hillis, Andre Dickens, Natalya M. Archibong and Antonio Brown.
Other items approved Monday include:
• A resolution authorizing the City to donate $2 million to support the Urban League of Greater Atlanta in establishing and implementing a Guaranteed Income Pilot Program in Atlanta Participants would receive $500 in a monthly guaranteed income payment over 12 months.
• A resolution authorizing the city of Atlanta to donate $2 million to support Operation Hope Inc. in establishing and implementing child savings accounts for certain eligible children attending Title 1 elementary schools with Atlanta Public Schools or those who live in the city of Atlanta and prove low-income status through an enrollment process.
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