To help Atlanta metro area community development corporations (CDCs) create and preserve more affordable homes, Enterprise Community Partners, Inc. (Enterprise), NeighborWorks America, the Georgia Center for Nonprofits, and NLIHC state partner Georgia ACT launched the Atlanta Affordable Housing Capacity Accelerator Program on February 13. Funded by JPMorgan Chase, the program will provide training and technical assistance to seven Atlanta-area CDCs.
“The Atlanta Affordable Housing Capacity Accelerator will strengthen these CDCs’ capacity to preserve their portfolios and develop new affordable homes in neighborhoods where low income residents are at risk of being displaced,” said Meaghan Shannon-Vlkovic, Enterprise vice president and Southeast market leader.
The Accelerator Program will prove each CDC an organizational assessment in key areas; short-, intermediate- and long-term recommendations for organizational advancement; access to a consultant for technical assistance in implementing the recommendations; and capacity-building grants. In addition, program participants will receive scholarships to participate in up to five trainings each year held for CDCs, public sector community development partners, and affordable housing developers in the Atlanta metro area.
The goal of the initiative is that these Atlanta metro areas CDCs will be more financially sustainable and able to increase their development of affordable homes to meet growing demand in the region. There are only 24 affordable and available rental homes in the Atlanta metro area for every 100 extremely low income households, those with incomes at or below the poverty level or 30% of the area median income. There are 49 affordable and available rental homes for every 100 very low income families, those with incomes at or below 50% of the area median income.
For more information about the Atlanta Accelerator Program, contact Sara Haas at: [email protected]