The Atlanta City Council approved legislation Tuesday to authorize the transfer of $400,000 to the Metro Atlanta Land Bank Authority to create affordable housing developments.
The funds will be used for the clearing of title, litigation, and preparation of the land-banked parcels for development. The legislation resulted from the first meeting of the City’s Affordable Housing Strike Force with the goal of activating public land for use as housing.
The council also approved legislation to authorize amending the Fiscal Year 2023 Special Assessment Fund budget to allocate $600,000 to the Metro Atlanta Land Bank Authority to fund the demolition of dilapidated structures.
In 2021, the city and the Metro Atlanta Land Bank Authority entered into an agreement that included the redevelopment of dilapidated and tax delinquent properties for use as workforce and affordable housing.
As a result, the city has taken in 318 parcels, which include 120 parcels of multi-family housing.