Box 18, Folder 27, Document 20

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whereby the purchaser earns the bulk of his down payment through cleaning, painting and landscaping. ational liones C

April 20 4 L267


Since compiling the previous report (February 20, 1967), 12 additional proposals have been made. Total is now 71. however, 19 of these propesais
constituting 6504 units, which were expected to be approvec, are in serious difficulty due primarily to objections from various sources as t

The Foundation for Cooperative Housing, which developed Eastwych Village and is currently developing Cambridge Square (both in DeKalb County),
now has a full time representative in Atlanta and is seeking clients, They are sponsoring the 200 unit Londen Towne kouses develoument in
Atlanta (Item F-5).

Saul Gray (partner in a Corporation) owms 280 new units off Bankhead at Elbridge St., which he wants to sell, + a potential cevelopment on the site
for 512 additional units.

Proposed locations for low cost housing are being coordinated with the Planning Dept., when initially submitted, for adequacy of Community Facilitisg
existing or proposed.

ct (approximately 700 units invelived) commenced


Rehabilitation by Housing Code Division of Ruilding Department on Eoulevard in Bedford-Pine U.R. Pro
February 1. ‘The U.R. project is still in survey and planning stage.

A list is available in Housing Resources Committee office of 103 units on Boulevard which the owners nave stated tiiey wish to seli.

During November; December and January , 1529 units were rehabilitated by the housing Code Biv; no reports ,rovided since (Item F-15),. 120 units
st End U.R. Project have heen rehabilitated Ly the housing futhority. (Item F-16).

Developers will have to provide a substantial portion of the program on small scattered sites.

No proposal has yet been made for construction of units (even 1 bedroom) to rent for as low as $50.00 per montn. Tne City's greatest neec is in
the $30.00 - $50.00 per month rental range. Charles A. Mueller Companies of Jonesbore is promoting the Sweat Equity Program (FHA insured mor

e rp. of Lafayette, Inc.
en the market Feb. 1, 1967, a 800 S.F. (0.S. dimensions) S”bedreom, prefabricated, preassembled panel, single family, house to retail (under
221 d (2) ) for about $8,000.00 (exclusive of land), plus a 96 S.F. (1.8. dimensions) storage building manufactured by Arrow Metal Products Corp.
Price includes plumbing, electrical, heating unit, stove & refrigerator. House can be completely assembled in 65 man hours; wants autherity to
erect in Atlanta. Establishment of special zoning districts for low cost prefabs appears to be the most plausable solution. Adrian Homes Corp. has
preposed a prefab to retail for about 97,500 plus land, foundation, closing and pcssiblytapping fees.



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(1) First Mortgage Advisary Corporation is providing package financing to developers, especially construction leans; claims that
there are no legal or standby fees or hidden charges and no deposit required. -

(2) John Hood € Co., Inc., One Yall St., New York, is interested in finaneing FHA project loans and also construction financing en FHA 221 d (3),
below market rate, construction lcans.

Information is welcomed as to changes, additions or deletions in material contained in this report. (Call 522-4403, Lxt. 430).

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