Box 18, Folder 11, Document 31

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Box 18, Folder 11, Document 31

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EDWIN L. STERNE
M. B. SATTERFIELD
CH AIRMA N
EXECUTIVE DIRECTOR ANO SECRETARY
GEORGE S. CR A FT
CARLTON GARRETT
VICE CH AI RM AN
DIRECTOR OF FINANCE
J. B . SLA YTON
GILBERT H. BOGGS
DIRECTOR OF HOUSING
JOHN 0. CHILES
GEORGE R . SANDER
FRANK G. ETHERIDGE
TECHNICAL DIRECTOR
82" HURT BUILDING
ATLANTA, GEORGIA
30303
JACKSON 3-6074
May 17, 1967
The Honorable Ivan Allen, Jr.
Mayor of the City of Atlanta
City Hall
Atlanta, Georgia
Dear Mayor Allen:
This replies to your letter of May 10 transmitting copy of a
memorandum submitted by the Housing Resources Committee and
requesting our specific comments on items 5, 6 and 9. These
comments are as follows:
(5) We are unaware of any offers for sale by owners of
103 units on Boulevard resulting from housing code inspections.
As a general rule it is not financially feasible to acquire old
housing by purchase since necessary financing of the resulting
project must extend over a 40 year life.
It is preferable to
lease units in such buildings since the economics usually do
not justify purchase.
(6) At the present time negotiations are proceeding concerning
the leasing of units in four additional separate sites. We hope
t o be able to add to the total number of units now under lease.
The great difficulty is the l ow vacancy rate in housing of
acceptab l e standard in the Atlanta area, which has resulted in an
attitude by most landlords that there is no financial advantage
t o them to enter into a lease agreement with the Housing
Authority since they already have extensive waiting lists and
are n o t having to make improvements that possibly would be
required under the Housing Authority leasing program.
�Mayor Allen
~age 2
May 17, 1967
The Housing Authority representative is devoting ample time to
the investigation of all available leads. All real estate firms
listed in the Yellow Pages have been circularized as well as
members of the two real estate boards. Constant visual
investigations are made in trips to various sections of the city
to find out where vacancies might be in existence.
The processing of individual tenant leases for occupancy of
units in private housing is not greatly time consuming since it
only averages about thirty minutes per tenant.
It i s considere d very important for the leasing represent a tive
to make very frequent checks of existing leased housing to make
sure that the public housing tenants are living up to their
obligations affecting the care of the premises, etc.
If this
program can b e controlled so that private landlords see that
public housing tenants are better than average tenants this
should h a ve a n importa nt impact on t he availabil i ty of addi tiona l
units f or l e as e . Althou gh the numb e r of le a s e d sites h a s not
increased in the past few weeks, the number of public housing
tenants has had a steady growth as dwelling units have become
available in pres e nt locati ons.
(9 ) Redu c ti on i n minimum p ri ce of sing l e family l o t s fo r
sal e in the Thoma sville Urban Redev e lopme nt P ro j ec t b e l ow the ir
cu r r ent minimum has been c ons i dered i n t he pas t.
The staff is
of t h e opinion tha t such reduction would not encourage the
deve l opment of t he se lots b e c a use:
(a )
The p r ice a s n ow s e t is l e ss t han the value of
the lots shoul d t he de v e l oper ac qu i re l and at
reasonable price and prov ide the stree t s ,
utilities , and other ameni ties as provided
by this p r o j e ct.
(b)
The Federal Housi n g Admi nis tra t ion will a ll ow
as land valu e onl y the amou nt actual ly paid
to us by the deve l oper. Therefore, any
redu ction in the price of the land wouldmly
res ul t in a redu ct i on in the amount of the
loan unde rwritt e n by FHA .
At the moment it appears to us the greatest opportunity for
provision of additional units for low income famili e s l i e s in
�Mayor Allen
Page 3
_May 17, 1 967
the 221D-3 Program, and hopefully in increasing the number
of units leased for public housing use, although the latter
does not increase total housing supply.
Sincerely yours,
.Lzz-
M. B. Satterfield
Executive Director
MBS/fm

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  1. http://allenarchive.iac.gatech.edu/originals/ahc_CAR_015_018_011_031.pdf

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