The Invest Atlanta Board of Directors has approved the authorization of up to $750,000 from the BeltLine TAD Affordable Housing Increment to establish a Predevelopment Assistance Fund. The purpose of the fund is to provide resources to help both for-profit and non-profit small developers to secure the needed capital to advance their residential real estate projects toward construction and development.

The Predevelopment Assistance Fund mirrors aspects of similar programs launched within the Campbellton Road TAD, the Perry-Bolton TAD, as well as the Westside TAD. Maximum loan amounts will be $250,000 per project. The fund is intended to support design services, cost estimation and feasibility and financial analysis.

Eligible projects must provide at least one of the following criteria: New multifamily rental with 20 percent of units at or below 60 percent AMI (Area Median Income); Rehab multifamily rental with 20 percent of units at or below 60 percent AMI; New or rehab single-family for-sale with 20 percent at or below 120 percent AMI.

The BeltLine TAD is one of 10 Tax Allocation Districts to help Atlanta grow and prosper by incentivizing development in areas needing additional investment. Click here for information on Invest Atlanta's TAD programs.