The Atlanta BeltLine is accepting applications for a new program designed to help long time residents of BeltLine neighborhoods stay in their homes. Created in collaboration between Atlanta BeltLine Partnership and Atlanta BeltLine, Inc., the Legacy Resident Retention Program mitigates displacement by helping current homeowners pay property tax increases.
A first-of-its-kind for the BeltLine, the program, modeled after the Westside Future Fund, aims to help homeowners with their property tax increase over a 10-year period. Donations from the Georgia Power Foundation and the Bank of America Neighborhood Builders Program provided the initial $700,000 seed money to launch the program. The anticipated cost to help these families is $12.5 million. There are an estimated 2,500 homeowners in the target neighborhoods that may qualify for property tax help.
The Legacy Resident Retention Program serves homeowners in the southern and western neighborhoods of the BeltLine whose annual household income is below 100% of the area median income (AMI). Residents must have lived in their home prior to March 2017 and be currently living in their home. Assistance will cover the increase in property tax on a first-come, first-served basis as funding is available.
The vision of the Atlanta BeltLine is to be the catalyst for making Atlanta a global beacon for equitable, inclusive, and sustainable city life. The Legacy Resident Retention Program is one of many projects in the works that aims to ensure that all residents—legacy or new—can benefit and prosper from the economic growth and activity associated with the Atlanta BeltLine.
To learn more about the program or to complete an application, visit beltline.org/retentionfund.