Decide DeKalb Development Authority is administering another $75 million tranche of DeKalb County's Housing Investment Bond Program, following the $25 million first tranche the county commission approved July 14 as part of a $155 million total authorization. County officials expect the bonds to bring in more than $1.2 billion in combined public and private housing investment toward a goal of 15,000 new or preserved units by 2032.
The money funds up to $20,000 in down-payment assistance for first-time buyers at or below area median income (an extra $5,000 for county employees), home-repair loans up to $44,000, gap financing for affordable developments, conversion of extended-stay hotels, and redevelopment of blighted property.
The county will repay the debt with $15 million a year from the general fund starting in 2027, administered jointly by the CEO's Office of Housing, the Housing Authority of DeKalb County, the DeKalb Regional Land Bank Authority and the Housing Development Corporation.
Why it matters
It's one of the largest county-level housing bond commitments in the region, and the repayment schedule locks in $15M a year of DeKalb's general fund starting in 2027.
Sources and documents2 sources
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