The City established long-term bond funding, securing $38.5 million in public investment through a 50-year hotel fee. The bonds provide ~$750,000 annually for land planning, acquisition, and gap-financing. The City’s investment is supplemented with HUD program funding with the objective of leveraging each public dollar with three private investment dollars. To encourage private investment, the City offers:
- Home buyers – gap financing, closing costs, and down payment assistance through interest-free loans
- Pre-qualified developers – construction interest assistance, land write-down, project-based assistance. Existing homeowners – blight reduction/elimination assistance
- Small residential investors – low-interest loans
- Commercial property owners – façade program
For more information about single family residential financing opportunities, contact Carla Delaney at 706-821-1797 or email.