Councilmember Marci Collier Overstreet, recently sent out information regarding Invest Atlanta's Owner Occupied Rehab Program. I wanted to share that information with Buckhead residents as well.
Invest Atlanta and the City of Atlanta will offer a deferred forgivable loan program that provides up to $30,000 to eligible City of Atlanta homeowners for specific health and safety repairs of major systems on their home. The loan will be either 5 or 10 years at a 0% interest rate with payments deferred and forgiven until the earlier of loan maturity, sale, transfer of ownership, or failure to maintain the property as the primary residence during the term of the loan.
Direct construction amounts of $15,000 or less have a 5-year term, and direct construction amounts over $15,000 will have a 10-year term. The principal balance is reduced by 10% or 20% annually provided the eligible homeowner maintains primary residency. The prorated remaining balance is due and payable immediately if the home is sold, transferred, or no longer the primary residence during the term of the loan. A lien will be placed on the home.
PRELIMINARY GUIDELINES (subject to change prior to application launch)
Hot Water Heaters
Homeowners are invited to attend a community information session. At these sessions, Invest Atlanta will provide detailed program information and an opportunity for homeowners to ask questions. Most importantly, applications for the program will be provided at each community engagement event.
Thank you for giving me the opportunity to represent you in District 8! I welcome your feedback and you can always reach me or my Chief of Staff at City Hall or at home:
City - MNorwood@atlantaga.gov (404) 330-6051
Home - MaryBushNorwood@gmail.com (404) 824-1014
Chief of Staff, Jim Elgar - JQElgar@atlantaga.gov (470) 727-7160