.MzIxMA.MzIxMA

/ir~ /Newsletter C E N'f RAL A TLAN TA P ROGRE SS INc Temporary Address is: Suite 1211, 615 Peachtree Street NE, Atlanta, 30308, Tel. 873-6983 S U ITE 2740 • 2 PEACHTREE STREET • TELEPHONE NUMBER 4 ATLANTA , GA . 3030 3 577- 3976 JANUARY 26, 1967 NO ISLAND TO ITSELF: Often a City's problems go und~tected until a chronic accumulation creates an acute crisis. Atlanta's 'golden heart" is no island to itself. Atlanta's housing is related to its heart --and vice-versa. Neither will live without the other. THE CRISIS OF HOUSING: To solve what Mayor Allen describes as a pressing need for 17,000 low-moderate-income housing units, he has appointed a Committee on Housing Resources, headed by Cecil Alexander. WHERE? At best1 a tough problem in a City developing so rapidly and beseiged by simultaneous demands for vital commercial development---- and housing for those attracted by such commercial development. THE PARAOOX OF ROCKDALE: Three miles northwest of "Five Points" is Rockdale Urban Renewal Project --- 150 acres of prime residential land, cleared, publicly-owned, and currently out for bid --- fixed price of $896,000, including 9.14 acres for commercial development --- award to best proposal for 1500 units of 22l(d)(3) housing. ~ 3 MILES N I DDWNT~JI Agonizing timetable began in August, 1957 with designation as Urban Renewal Project --- Survey and Planning Application approved in April, 1958; Entered execution (acquisition, etc., June, 1960. Bids to be opened March 15th, 1967. A FLY IN THE OINTMENT: A major problem now threatens the whole project. Under provisions of Sect. 221(d)(3) of the National Housing Act, FHA "has indicated a willingness to issue commitments to an acceptable developer, insuring mortgages on special terms ••••• at a mortgage interest rate below the current rate on FHA-insured mortgages." BUT, it was reported in the Citizens Advisory Committee on Urban Renewal Meeting on 1/19/67 that FHA has agreed to tentative approval OF ONLY 150 UNITS FOR THE FIRST YEAR---- subsequent units to be approved based on success of the first units, etc. etc., etc • •••••••• in a City crying for more housing units •••••• in a Nation with the avowed policy of helping to house its people ••••••• in a Nation whose Number 1 domestic problem is the decay of jts cities. IT DOESN'T MAKE SENSE. Bidder interest must diminish --- if not totally disappear under such uncertainties of finance. A 10-year program of development removes all chances for planning and economies of construction. IT DOESN'T MAKE SENSE. TOP-LEVEL FHA POLICY MUST BE RE-EVALUATED AND ADJUSTED TO HANDLE SUCH SITUATIONS. SUCH FEDERAL PROGRAMS MUST BECOME A PART OF THE SOLUTION----- NOT THE PROBLEM. ••••• and 10 years from designation to bipding is a long time.

Bob Bivens

�