Part of the "ASCENDERS" initiative
Establish INSPIRE Augusta Inc. as a community quarterback for housing within the Innovation District so the district remains attractive, affordable, and accessible for Augusta’s diverse population. INSPIRE Augusta Inc. would forge community partnerships, direct private investments, and support a mix of housing in Innovation District home-base neighborhoods and surrounding areas. A subsidiary nonprofit, INSPIRE Augusta Partnerships, would serve as a fundraising arm for philanthropic housing investments.
Tracks first-phase property redevelopment goal within targeted areas.
Tracks projected public and private investment that INSPIRE Augusta Inc. could spur.
Tracks growth of the discretionary fund for development.
Tracks INSPIRE Augusta Partnerships investing alongside City of Augusta and federal/state affordable housing funding.
Tracks model completion period cited from Atlanta Neighborhood Development Partnership.
Tracks the number of criteria used to select construction/redevelopment sites.
Tracks the stated blight reduction timeframe.
Tracks recommended funding range for INSPIRE Augusta Inc. as a new fund.
Tracks the period for establishing the initial discretionary fund.
Tracks creation of INSPIRE Augusta Partnerships as a subsidiary nonprofit fundraising arm.
Tracks identification of chartered urban redevelopment corporations.
Tracks model grant amount cited from Atlanta Neighborhood Development Partnership.
Tracks potential anchor institutions listed for INSPIRE Augusta Inc.
Tracks possible expansion into community centers, job training programs, and STEM education support.
Tracks the mix of housing styles recommended for INSPIRE Augusta Inc. programs.
Tracks Year 3-4 budget.
Tracks affordable housing stock increase.
Tracks discretionary fund goal for the first two years.
Tracks evaluation of collaboration with the Land Trust.
Tracks growth in the housing tax base due to reduced blight and abandoned properties.
Tracks the 4-5 year redevelopment period for additional properties.
Tracks recommended property redevelopment range tied to $2-3 million.
Tracks Year 1-2 budget.
Tracks broader redevelopment areas, including Block Programs, AU student and alumni housing, and cybersecurity employee housing.
Tracks the long-term review period after the first five years.
Tracks total redevelopment goal after first and second phases.
Tracks development of a mixture of market-rate and affordable housing.
Tracks potential MOU between INSPIRE Augusta Inc. and Augusta Economic Development Authority.
Tracks assessment of housing redevelopment role, blight, poverty, economic growth opportunities, and education initiatives.
Tracks new and redeveloped housing and mixed-income rental units.
Tracks additional properties targeted for redevelopment over 4-5 years.
Tracks seed funding commitments from private foundations, corporate partners, and public funds.
Tracks establishment of INSPIRE Augusta Inc. as a community quarterback for housing within the Innovation District.
Tracks The Collaborative as a potential partner for distributing micro-loans.
Tracks affordable housing loans for residents who do not qualify for employer-assisted housing incentives.
Tracks model housing completion benchmark cited from Atlanta Neighborhood Development Partnership.
Tracks use of the initial fund to distribute micro-loans to redevelopment corporations.
Tracks local economic support through work with local vendors and contractors.
Tracks purchase of abandoned properties in target areas for affordable housing redevelopment.
Tracks timing for evaluation of collaboration with the Land Trust.
Tracks expected impact period.
Tracks advocacy for inclusionary zoning laws.
Tracks site selection for construction/redevelopment.
Tracks reduction of blighted housing.
Tracks potential expansion of a Tax Allocation District near 15th Street and Walton Way.
Years 1-2: $2 million; Years 3-4: $3 million. The report uses Atlanta Neighborhood Development Partnership as a model, noting that a $1 million grant was estimated to complete more than 100 homes in five years. Since INSPIRE Augusta Inc. would be a new fund, the report recommends $2-3 million to redevelop 40-50 properties, including single-family, multifamily, and townhomes/condos, in a similar time frame.