Georgia Power Foundation invests $500,000 in support of Atlanta BeltLine communities' longstanding residents
Donation will help pay increases in longstanding homeowners' property taxes to prevent displacement and support continued access
ATLANTA, Dec. 8, 2020 /PRNewswire/ -- The Georgia Power Foundation has announced a $500,000 donation over the next three years to support the Atlanta BeltLine Partnership's (ABP) Legacy Resident Retention Program. The donation will help seniors and working families, who are longstanding residents in these historic neighborhoods, afford to stay in their homes and continue to access the Atlanta BeltLine, which also helps revitalize the area for the city.
As the Atlanta BeltLine has become one of the city's best and most proven tools for economic development, its increased demand has led to an increase in property values. Through the Legacy Resident Retention Program, the ABP ensures that longstanding current residents are able to stay in their communities through grants that will help pay for the increases in a homeowner's existing property tax bill.
"Georgia Power is proud to support Atlanta BeltLine Partnership's efforts to ensure that the revitalization and vibrancy of the city is attainable to all longstanding residents," said Bentina Terry, senior vice president of Metro Atlanta & Corporate Relations at Georgia Power and Atlanta BeltLine Partnership chair-elect. "For more than 135 years, our focus has been to support our communities where we live and work, and ultimately make them stronger and better places. The seniors and working families in these neighborhoods are the cornerstone of this city and we are honored to be part of their story."
Through the Legacy Resident Retention Program, ABP and its partners will provide financial assistance to cover ten years of property tax increases for qualifying homeowners in communities on the south and west sides of the city. More than 2,500 households are estimated to participate in the program, presenting a significant opportunity to help keep residents in their communities.
"With mounting concerns of revitalization driving up home appraisals, property appreciation, and higher property taxes, the Georgia Power Foundation is supporting the future stability of seniors and working families," said Rob Brawner, executive director of the Atlanta BeltLine Partnership. "Their gracious contribution is vital for ensuring people continue to live, work, and thrive in Atlanta BeltLine communities."
To learn more about Georgia Power's commitment to the community, including the company's annual citizenship report, visit GeorgiaPower.com/Community.
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For further information: Georgia Power Media Relations, (404) 506-7676 or (800) 282-1696, www.georgiapower.com