Announcements

NOTICE OF PUBLIC HEARING GEORGIA HOUSING AND FINANCE AUTHORITY

NOTICE OF PUBLIC HEARING GEORGIA HOUSING AND FINANCE AUTHORITY

PUBLIC NOTICE IS HEREBY GIVEN that the Georgia Housing and Finance Authority will hold a public hearing at 10:00 a.m., August 31, 2022, at its principal office located at 60 Executive Park South, N.E., Atlanta, Georgia 30329 in Room 202, 2nd floor, or such other room as noted outside Room 202 at the time of the hearing. The purpose of the hearing is to provide an opportunity for public comment on the proposed plan of financing involving the sale and issuance of up to and including Two Hundred Fifty Million Dollars ($250,000,000) of qualified mortgage revenue bonds. The bonds may be sold in one or more series, on one or more dates and each series may consist of one or more subseries.

The plan of financing shall (a) make available monies to finance qualified single- family residential mortgage loans to eligible persons and families for the acquisition of owner-occupied dwellings within the State of Georgia, (b) to establish necessary funds, reserves and accounts, (c) if market conditions are suitable, to refund certain of the Authority’s bonds, notes and/or obligations, and (d) to pay for costs of issuance.

Proceeds made available as a result of the plan of financing will be available to finance mortgage loans statewide. The bonds issued by the Georgia Housing and Finance Authority will not constitute a debt of the State or a pledge of the faith or the credit of the State of Georgia but shall be payable solely as provided in the Resolution or Resolutions authorizing the issue, and the issuance of such bonds shall not directly or indirectly obligate the State to levy or pledge any form of taxation or to make any appropriation for repayment of such bonds.

Oral and written comments are solicited. Written comments must be delivered to and received by the Georgia Housing and Finance Authority at the aforementioned address no later than 11:00 a.m., August 31, 2022.

The Georgia Department of Community Affairs, the administrator of the programs for the Georgia Housing and Finance Authority, is committed to providing all persons with equal access to its services, programs, activities, education, and employment regardless of race, color, national origin, religion, sex, familial status, disability, or age. For a reasonable accommodation, please contact fairhousing@dca.ga.gov.
 
PDF icon notice_of_publication_08172022.pdf

NOTICE OF PUBLIC HEARING GEORGIA HOUSING AND FINANCE AUTHORITY

NOTICE OF PUBLIC HEARING GEORGIA HOUSING AND FINANCE AUTHORITY

PUBLIC NOTICE IS HEREBY GIVEN that the Georgia Housing and Finance Authority will hold a public hearing at 11:00 a.m., June 28, 2021 virtually via Microsoft Teams. The purpose of the hearing is to provide an opportunity for public comment on the proposed plan of administrating the Georgia Homeowner Assistance Fund Program. Anyone who intends to attend the hearing shall email Ren Ellington at ren.ellington@dca.ga.gov to obtain a link to the meeting, no later than 11:59 p.m., June 27, 2021.

A proposed term sheet is attached to this hearing notice.

Oral and written comments are solicited. Written comments must be emailed to Ren Ellington at ren.ellington@dca.ga.gov, no later than 12:00 p.m., June 25, 2021.

The Georgia Department of Community Affairs, the administrator of the programs for the Georgia Housing and Finance Authority, is committed to providing all persons with equal access to its services, programs, activities, education, and employment regardless of race, color, national origin, religion, sex, familial status, disability, or age. For reasonable accommodation, please contact fairhousing@dca.ga.gov.

Homeowner Assistance Fund

The State of Georgia was allocated $354 million by the US Department of the Treasury (Treasury) for the Homeowner Assistance Fund, established through the American Rescue Plan Act of 2021, to prevent mortgage delinquencies, defaults, displacements and foreclosures for homeowners experiencing financial difficulties after January 21, 2020 due to the coronavirus pandemic.

The Georgia Department of Community Affairs’ Georgia Housing Finance Authority (Agency) is currently working on the design of a program to assist low- to moderate-income and socially disadvantaged homeowners statewide, as instructed by Treasury. Prior to submitting the proposed program to Treasury for review and approval, the Agency is seeking comments on program design and outreach strategies from individuals and groups that work with homeowners, including mortgage partners, referring agencies and membership organizations representing socially disadvantaged homeowners.

The Agency is well positioned to quickly and efficiently launch the HAF program. The Agency operated a successful Hardest Hit Fund (HHF) from 2011 through 2020 by assisting over 17,000 homeowners, preventing foreclosures, and helping to stabilize neighborhoods. There are multiple similarities in HAF to the delivery systems employed by HHF.

The Agency does not plan to implement a pilot program for the HAF program due to the urgent need of assistance in Georgia. Opening the program to eligible households across the state as quickly and efficiently as possible is the Agency’s central goal. The years of experience with HHF programs have sufficiently prepared the organization and staff to quickly administer such a program.

View Recording Here

PDF icon hafp_term_sheet.pdf