ATLANTA — Atlanta Mayor Andre Dickens is moving forward with what he calls one of the biggest initiatives of his second term.

The mayor formally introduced the Neighborhood Reinvestment Act to the Atlanta City Council, calling it the most comprehensive neighborhood investment and anti-displacement legislative package in the city’s history.

“This legislation reflects months of collaboration, feedback, refinement, and engagement with this council,” Dickens said.

The proposal includes extending six tax allocation districts and more than 20 ordinances and resolutions aimed at protecting longtime residents and businesses in Atlanta neighborhoods.

Dickens says every dollar invested through the package must support three specific goals.

“One, preventing displacement. Two, stabilizing neighborhoods, and three, creating wealth for residents,” Dickens said.

The mayor says revisions were made to the proposal after feedback from city council members and the community.

The updated legislation also creates a trust fund designed to help neighborhoods in need of additional financial support.

Dickens says addressing inequities across Atlanta will take time.

“Inequity in Atlanta did not happen overnight, and it will not be solved overnight,” Dickens said.

He says preventing displacement remains one of the city’s top priorities.

“More than 20 programs, tools, and policies are included to help residents remain in their homes, preserve affordability, stabilize neighborhoods, and create pathways to opportunities,” Dickens said.

The Atlanta City Council must still approve the package.

WSB Radio’s Jennifer Perry contributed to this story.