Box 7, Folder 20, Document 14

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RAL ATLANTA Procress, |NC.

Temporary Address is: Suite 1211, 615 Peachtree Street NE, Atlanta, 30308, Tel. 873-6983
SUITE 2740 @ 2 PEACHTREE STREET @ ATLANTA, GA. 30303

Ay? ~. JVewslet er



NO ISLAND TO ITSELF:
Often a City's problems go undetected until a chronic accumulation creates an acute crisis.
Atlanta's 'yolden 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 best, 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 PARADOX 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
ROCKDALE for 1500 units of 221(d)(3) housing.



Agonizing timetable began in August, 1957 with desig-
3 MILES nation 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,



DOWNTOWN
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.

eeeeeeee 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 its 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,

eeeee and 10 years from designation to bidding is a long time,

---- Bob Bivens




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