New fund to help legacy residents keep their homes through property tax support
The Atlanta BeltLine Partnership, in collaboration with the Atlanta BeltLine, Inc., is pleased to announce receiving a $500,000 donation from the Georgia Power Foundation. This contribution will support the Legacy Resident Retention Program, which mitigates displacement by helping current homeowners pay property tax increases.
Residents along the southern and western neighborhoods of the BeltLine are eligible to apply for this relief, and participants must have an annual household income below 100% of the area median income (AMI). Working with the APD Urban Planning & Management, 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.
“Georgia Power is proud to support Atlanta BeltLine Partnership’s efforts to ensure that the revitalization and vibrancy of the city is attainable to all legacy residents,” said Bentina Terry, Partnership chair-elect and senior vice president of Metro Atlanta & Corporate Relations at Georgia Power. “For more than 135 years, our focus has been to support our communities where we live and work, and ultimately make them stronger and better places. The seniors and working families in these neighborhoods are the cornerstone of this city and we are honored to be part of their story.”
The gift from the Georgia Power Foundation has launched the critical work of the Legacy Resident Retention Program. There are an estimated 2,500 homeowners in the target neighborhoods that may qualify for property tax help.
This program provides aid to homeowners over a 10-year period, and the estimated cost to help these families is $12.5 million. Assistance will cover the increase in property tax on a first-come, first-served basis as funding is available.
“With mounting concerns of revitalization driving up home appraisals, property appreciation, and higher property taxes, the Georgia Power Foundation is supporting the future stability of seniors and working families,” said Rob Brawner, executive director of the Atlanta BeltLine Partnership. “Their gracious contribution is vital for ensuring people continue to live, work, and thrive in Atlanta BeltLine communities.”
“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 Georgia Power Foundation’s dedication to our community.”
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