Award will help legacy residents keep their homes through property tax support
The Atlanta BeltLine Partnership is pleased to be a recipient of the Bank of America Neighborhood Builders Program. This program is one of the nation’s largest philanthropic investments in nonprofit leadership development. The $200,000 award will support the Legacy Resident Retention Program.
Created in collaboration with Atlanta BeltLine, Inc. to mitigate displacement, the Legacy Resident Retention Program provides homeowners with financial assistance to help cover property tax increases over a 10-year period. Residents along the southern and western neighborhoods of the BeltLine are eligible to apply for this relief. Participants must have an annual household income below 100% of the area median income (AMI).
APD Urban Planning & Management is administering the program. Applications are currently being processed and community members may apply for help now by registering at beltline.org/retentionfund, emailing firstname.lastname@example.org, or calling 678-718-5469.
“The Neighborhood Builders program enables nonprofit partners to continue creating meaningful and sustainable change in the communities we serve,” said Wendy Stewart, Atlanta market president for Bank of America. “Homeownership is key to achieving economic mobility, and the Atlanta BeltLine Partnership’s Legacy Resident Retention Program is providing critical assistance at a time when it is needed most. We look forward to seeing how this investment helps families and residents, as well as the overall economic health of our city.”
There are an estimated 2,500 homeowners in the target neighborhoods that may qualify for the Legacy Resident Retention Program. The estimated cost to help these families is $12.5 million over 10 years. Assistance covers the increase in property tax on a first come, first served basis as funding is available.
“It is a great honor to be a Bank of America Neighborhood Builders Program recipient,” said Atlanta BeltLine Partnership Executive Director Rob Brawner. “This support of our work to foster economic mobility and community advancement ensures residents live, work, and thrive in BeltLine neighborhoods.”
“As part of the vision that all Atlantans benefit and prosper from the Atlanta BeltLine’s progress, these tangible resources will ensure legacy residents can remain in their homes,” said Atlanta BeltLine, Inc. CEO Clyde Higgs. “We are grateful for the Neighborhood Builders investment to further our mission.”
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