Public Hearing: YES ☐ NO ☒ Department: Chief Executive Office
SUBJECT:
Title
Commission District(s): All Commission Districts
A supplemental resolution (i) approving the issuance of the “Housing Authority of the County of DeKalb, Georgia Taxable Revenue Bonds (Housing Investment Bond Program) Series 2026” in the aggregate principal amount of $[________], for the purpose of funding the Housing Investment Bond Program and (ii) authorizing the execution and delivery of an Intergovernmental Housing Cooperation Agreement between the County and the Housing Authority of the County of DeKalb, Georgia.
Body
Information Contact: Dianne McNabb, CFO and Bob Atkins, Deputy Director of Finance/Treasurer
Phone Number: 404-371-2174 and 678-910-5638
PURPOSE:
To adopt a supplemental resolution (i) approving the issuance of the “Housing Authority of the County of DeKalb, Georgia Taxable Revenue Bonds (Housing Investment Bond Program) Series 2026” in the aggregate principal amount of $[________] (the “Bonds”), for the purpose of funding the Housing Investment Bond Program and (ii) authorizing the execution and delivery of an Intergovernmental Housing Cooperation Agreement (the “Agreement”) between the County and the Housing Authority of the County of DeKalb, Georgia.
NEED/IMPACT:
The County and the Housing Authority of the County of DeKalb, Georgia are proposing to establish a Housing Investment Bond Program in the County, funded with proceeds of the above described Bonds, to address, among other things, (i) rising housing costs and limited supply, (ii) displacement pressure on long-term residents, (iii) growing housing demand across income levels and the support needed for housing production and preservation, (iv) need for sustained funding and scalable capital, etc. The County would enter into the Agreement and agree to pay the principal of, premium, if any, and interest on the Bonds when due.
FISCAL IMPACT:
Periodic payments required to be paid under the Agreement. Such period payments under the Agreement will reflect total interest on the Bonds in an amount equal to $[__________] and average annual debt service on the Bonds in an amount equal to $[__________].
RECOMMENDATION:
Recommended Action
Adopt the attached supplemental resolution and authorize the Chief Executive Officer and the Chief Financial Officer to execute all necessary documents in connection with this matter.