Box 18, Folder 27, Document 31

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Notes on

Feb. 20, 1967

Related Matters:
A. 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.
B, No proposal has yet been made for construction of units (even 1 bedrcom) to rent for as low as $50.00 per month, The City's greatest
need is in the $30.00 - $50.00 per month rental range. Charles A. Mueller Companies of Jonesboro is promoting the Sweat Equity Program
(FHA insured mortgage) whereby the purchaser earns the bulk of his down payment through cleaning, painting and landscaping. National
Homes Corp. of Lafayette, Ind. placed on the market Feb. 1, 1967, a 800 S.F. (0.S. dimensions) 3 bedroom, prefabricated, preassembled
panel, single family house to retail (under FHA 221 d (2) ) for about $8,800.00 (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 85 man hours.
Cc. (1) First Mortgage Advisary Corporation is interested in providing package Financing to developers, especially construction loans; claims
that there are no legal or standby fees or hidden charges and no deposit required.
(2) John Hood & Co., Inc., One Wall St., New York, is interested in financing FHA project loans and also construction financing on
FHA 221 d (3), below market rate, construction loans.
D. Rehabilitation by Housing Code Division of Building Department on Boulevard in Bedford-Pine U.R, Project (approximately 700 units involved)
commenced February 1. The U.R. project is still in survey and planning stage.
E, Small developers should provide a substantial portion of the program on small scattered sites.
F, Since October, 1966, 1529 units have been rehabilitated by the Housing Code Div; and 80 units in West End U.R. Project by the Housing i
Authority. (Items 40 and 41).
G. Roy D, Warren Co, is willing to undertake construction of 1000 units (prefers single family sales housing), but wants City backing on
land location and zoning which may be required.
H. Embry Realty Co. in Chamblee is seeking land and non-profit sponsors for 221 d (3). Claims to have a full service organization including
Real Estate, Architectural, Financing, Legal and Building knowledge and experience to meet all FHA requirements.
I. Information is welcomed as to changes, additions or deletions in material contained in this report. (Call 522-4463, Ext. 430).
Summary ¢ Estimate Available
No, Units 1967 1968 Both Years
F - Reasonably Firm 3372 (Incl. 1140 PH + 700TK) TIS (incl.1054 New + 144 PHL) 231d “3510
P Probable 4237 (Incl. 325 TK) - 2567(Inel.375 TK) 2967
C = Leing Considered 289 124 243 372
D Boubtful 1392 ent - a
Total 11490 Units Proposed 1322 S33 6455
Pnclosure: (Tncl,1140 new units of P.H.) 73578 +233 3345 + or ~
Sia a ote see + LU units leased for P.H, 4900 OOO 9800 Goals
Summary of Public é te & . Los a _ :
Housing in Atlanta + 1654 existing units rehabilitated. Nalcolin D. Jones .
Z —~ + 1424 existing units proposed for rehabilitation. Supervisor of Inspection


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