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Program Deliverables Updates
Program 6: Permanent Affordability Pilot Program PROGRAM DELIVERABLES UPDATES
• Executed a Memorandum of Understanding (MOU) with Atlanta Land Trust, Inc. (ALT) in May 2020 for Pilot Program to convey 14 properties for rehab or new construction of permanent affordable housing. • The MALB Board of Directors voted to extend MOU in August 2022 for one addtional year. • All properties subject to purchase from the MALB based on Permanent Affordability Pricing Policy.
- In this case, 25% of market value plus portion of holding costs.
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ALT has purchased 11 of the 14 properties.
• Acquisition of 3 remaining properties in the English Avenue neighborhood on hold until the Environmental Protection Agency (EPA) completes remediation as part of their Westside Lead Cleanup Project. • The MALB will reconsider sale of properties to ALT upon completion of EPA work.
Metro Atlanta Land Bank // Annual Report 2023
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