Fulton County

Commissioner Bill Edwards thinks a new day is breaking for affordable

housing in Fulton County.

Edwards is

ecstatic about Tuesday's announcement by the Housing Authority of Fulton

County that it will make $100 million in bond financing available for

developers to build homes throughout Fulton County.

Hundreds

of construction industry executives heard details of the Welcome Home

Program, which will provide mixed-income single-family housing for everyone

from working families to young professionals, and serve as a tool to

revitalize neighborhoods.

The first

of its kind by a housing authority in metro Atlanta, the program is

the latest in the HAFC's ongoing effort to form public-private partnerships

and expand housing opportunities in the county.

Developers

can use the funds to build market-rate homes on targeted sites or to

create subdivisions. The bonds will be made available through a new

HAFC subsidiary, Legacy Community Partnership.

"Ownership

changes a mindset. There's only a 1 percent foreclosure rate on homes

in this country and nearly 68 percent of the people are owners,"

Edwards said.

The commissioner

believes a lot of the bond money will go to redeveloping areas in South

Fulton, which will provide more economic development in the area.

Edwards is

pleased a variety of housing price levels will be built, since many

retailers look for a wide income range before they commit to building.

"If

you just have $200,000 houses, those people are far more likely to jump

in their Jaguar and go somewhere else to buy things," he said.

Edwards is

happy the Housing Authority is taking such an active role in the project

and urged residents to change their minds about the organization.

"The

Housing Authority has become a lot more innovative," he said.

While the

bond money only provides for construction costs, Edwards said a number

of lenders were at Tuesday's unveiling of the project and voiced their

enthusiasm for it.

He plans

to monitor the efforts of the program and keep residents up to date.

"I would

rather have a person in their own house than renting," he said.