DeKalb CEO outlines $25M initial tranche for wider $155M housing investment plan

Dr. Ferguson, speaking for the Office of the Chief Executive, presented the proposed DeKalb County Housing Investment Bond Program and a companion resolution to authorize initial program implementation. Ferguson said the county is pursuing an initial taxable bond issuance "not to exceed $25 million" as a first tranche within a broader effort that the presentation characterized as a $155 million investment package to seed multiple housing programs.

Ferguson described a suite of initiatives the bond proceeds and the county's Affordable Housing Fund would support: a DeKalb HomeStart down-payment assistance program (up to $20,000 for eligible buyers at or below 100% of area median income, $15,000 for 100'20% AMI tiers), an employee-assisted housing pilot (a $5,000 down-payment assistance set-aside for eligible county employees), a multifamily gap-financing "housing catalyst" program, a multifamily acquisition fund, a Revive DeKalb multifamily blight remediation initiative, transitional housing services, and a housing-capacity seed fund that includes faith-based and neighborhood-scale developer cohorts.

Ferguson said the county would act as sponsor and be responsible for debt service and oversight while the Housing Authority of DeKalb County and related affiliates would serve as primary program administrators and implementers. Staff projected leveraging county capital to unlock multiple dollars of private and other public investment; Ferguson described a target leverage multiple used in internal planning (discussed as roughly $10'12 of private/public capital for each county dollar invested) and a goal of contributing materially to a county target of 15,000 housing units by 2032.

Commissioner Robert Patrick asked technical questions about numbers in the draft resolution (which included a par amount reference and a separate annual payment figure), noting text that references both a $25 million par and an interest-rate cap in the draft. Ferguson acknowledged the need for precision and asked the county's finance director to clarify presentation wording; staff said the $25 million referenced the initial par amount and that other draft figures reflected cost assumptions and issuance-related costs.

Commissioners expressed support for multiple program components (down-payment assistance, gap financing and street-outreach funding) and requested one-page program descriptions to share with constituents. Staff anticipated advancing the items to the full Board of Commissioners on July 7 and an anticipated bond closing in August if approvals proceed.

Ending: The committee moved companion items 2026-1043 and 2026-1044 forward by voice vote so that the board may consider bond authorization and program initiation at its upcoming session. Commissioners requested additional one-pagers and clarifications on draft resolution language before the board hearing.