Resources Available for Innovative Preservation Proposals in Atlanta
Last month, Enterprise, the Georgia Department of Community Affairs (DCA) and Georgia ACT launched Atlanta’s Affordable Housing Preservation Challenge. The centerpiece of the Preservation Challenge is an idea competition to generate innovative, implementable proposals that will help preserve affordable housing in the Atlanta region and throughout Georgia’s urban centers, with up to $100,000 in implementation funding available to the winners. This event is sponsored by the JP Morgan Chase Foundation.
The competition parameters are laid out in the Request for Ideas (RFI) for Phase 1 of the competition. An expert selection panel will review proposals for innovative activities to support preservation and select up to three to advance to Phase 2 and receive up to $10,000 to conduct additional due diligence and feasibility analysis. One proposal will be selected to receive up to $70,000 in implementation resources.
The ATL Challenge organizers are seeking a diverse set of implementable proposals, including but not limited to those related to:
- Identifying a pipeline of properties at risk of loss as a result of physical deterioration, financial distress, market repositioning, and/or subsidy expiration.
- Expanding the pool of developers capable of undertaking preservation initiatives
- Facilitating cross-jurisdictional and cross-sector engagement to enhance partnerships among interested stakeholders
- Creating additional sources of capital and/or supporting more efficient uses of existing sources
- Developing local and/or regional policies that support preservation
- Engaging tenants in preservation efforts
We encourage anyone interested in preservation efforts – whether in Atlanta or elsewhere across the country – to follow these efforts at www.ATLPreservation.org. Potential participants can learn more by reading the Request for Ideas. Phase 1 proposals are due on January 6.