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State details project list of affordable housing

State officials have unveiled a list of 30 projects that will receive $22.4 million in federal housing tax credits to build or rehab affordable housing properties across the state. Gretchen Corbin, who heads the Department of Community Affairs, said this week the funds will increase the number of affordable housing units available to more»

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State details project list of affordable housing

AJC

Published Monday, May 19, 2014

State officials have unveiled a list of 30 projects that will receive $22.4 million in federal housing tax credits to build or rehab affordable housing properties across the state.

Gretchen Corbin, who heads the Department of Community Affairs, said this week the funds will increase the number of affordable housing units available to the state's neediest citizens.

Officials say the housing tax credit is the state's main tool to create and preserve affordable housing and virtually all affordable apartments built each year are financed through the program. The current funds will add nearly 2,300 units to the state's affordable housing inventory.

Officials say the program has financed development of almost 144,000 homes in Georgia, supported 162,700 jobs, and generated $15.51 billion in local income and $6.11 billion in tax revenues.