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Beltline seeks to raise $7.5 million for (gasp) affordable housing

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Plan offers builders tax credits for the cause; Beltline CEO basically calls affordability an endangered species

In yet another nod to the lack of affordable housing in Atlanta — specifically, along the Beltline — city officials met with Invest Atlanta board members at a Beltline meeting Thursday and discussed how funding could be allocated to help remedy the issue.

Officials at the meeting discussed how to raise $7.5 million to encourage affordable housing development along its loop of trails and greenspace, according to the AJC.

Atlanta Beltline approved a $70 million fiscal 2017 budget Thursday, which includes $2.2 million for affordable housing.

It also includes a $50 million bond sale, which could raise the aforementioned $7.5 million for affordable housing in the coming years by offering builders tax credits for the cause.

Most of the money will be used to address a list of capital projects that have yet to be named.

Creative Loafing reported that, at the meeting, Beltline President and CEO Paul Morris said, "The pace with which affordability is declining is much faster than anything else happening in our economy."

Sounds about right.