Box 5, Folder 9, Document 16

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A charter has been obtained for a non- profit corporation to be known
as Greater Atlanta Housing Development Corporation.

Office space has been secured adjacent to Central Atlanta Progress,
Inc. at 2742 First National Bank Buiiding, for secretarial convenience,
and a full-time Executive Secretary, Mr. Robert C. Watkins, was
retained effective July 22,. 1968.

The purpose of the Corporation is to promote more adequate housing for
families with low to moderate incomes through the following activities:

1. Technical assistance for multi- -family housing Sponsors,. |
especially non- profit sponsors.

a. Advising prospective sponsors in site selection, zoning,
FHA, HUD, loan matters and problems.
D> Collating information accumulated from research of city

and federal agencies. 5
Provide seed money loans:

. a. “fo secure land options
b. Pay preliminary architect fees
ec. Attorney fees
a. Title surveys.
e. Other initial costs until loan closing

“Rehabilitation of deteriorating and substandard housing and
establishment of a program for sale of single-family dwell-
ings to occupant owners. S

4. Promote interested parties to help in solution of housing
problems. .

Operating funds of $22, 200 have been provided thus far through a
grant of $10,000 from the Atlanta Chamber of Commerce and $12, 200
from interested corporations. Plans are under way for pr roviding more
substantial funds for seedmoney loans and other purposes.

Selection of the Board of Trustees and election of officers will
probably be completed sometime in December, 1968, so that the prozream
of the Corporation will become fully operative in 1969.

A report of the activities of the Executive Director in 1968 is

W. Lee Burge, Chairman .
Finance and Non-Profit Funds Panel
Housing Resources Committee

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