CREATIVE SOLUTIONS TO HOUSING THE HOMELESS
NALHFA 2013 EDUCATIONAL CONFERENCE
Ernestine W. Garey
The Challenges• “Blueprint to End
Homelessness in Atlanta”
• No dedicated source of funding for capital costs
• Rental Housing and Assessment Centers
• Connect to Social Services & Identify Funds
• Combatting NIMBYism
Structure of Transaction
• Review of Georgia Rental Car Tax Law-established to promote industry, trade, commerce and tourism
• Providing housing for the homeless supports this public purpose
• City could pledge its revenues from rental car taxes as security for the revenue bonds
Bond Issue• $22,000,000 in bonds
issued in 2005• Car Rental Tax
Revenues pledged as sole security for the bonds
• Not General Obligation Bonds
• Bonds insured by Ambac Financial Group
• AAA Rating• 20 year maturity
Project Review Criteria
• Project Feasibility & Readiness• Realistic Development Timetable• Financial Feasibility• Social Service Plan• Ability to Leverage Other Dollars• Relocation Requirements• Developer Track Record• Ability to remain in compliance for 15
years
Results• 16 Rental Projects Completed• 4 Assessment Centers• Total Permanent Supportive Units & Beds-740• Workforce Units Created - 1485• Public to Private Leverage Ratio – 1:5• Homeless Populations served
– Men and Women– Veterans– Women with Children– Men & Women w/Developmental Disabilities– Grandparents– Reuniting Families
Columbia Tower• Acquisition and
substantial rehab of 95 unit high rise tower
• Developmentally Disabled-Target Population
• Project Cost- $12.8m
• Grant Funding-$2 million
• Social Services provided on site
Columbia Tower
Eden Village I and II• Received grants
totaling $2,121,506
• Residential Service Center for homeless women with children
• 232 beds, on-site day care, central laundry & kitchenettes, life skills training, computer center
• On site Culinary Arts training program
Eden Village I & II
Automatic Self Cleaning Public Toilets• Five units installed at
strategic locations
• Pre-fabricated - Public Facilities & Services, Inc.
• Plumbing & electrical connections
• Self cleans on set cycle
• $250,000 each
• Initial maintenance Costs-$80,000 annually
Automatic Public Toilets
Columbia at Sylvan Hills
Columbia at Sylvan Hills
