The Georgia Department of Community Affairs (DCA) recently awarded $22.4 million in federal low-income housing tax credit (LIHTC) reservations to construct or rehabilitate 30 affordable rental housing properties throughout the state.
The developments include affordable housing for working families, seniors. and persons with disabilities. They were selected from 57 applications in the annual competition.
In Georgia, the housing credit has financed development of almost 144,000 homes, supported 162,700 jobs, and generated $15.51 billion in local income and $6.11 billion in tax revenues.
The latest awards will add 2,292 units to DCA’s affordable housing inventory. The estimated one-year economic impact of this year’s awards includes more than $176 million in local income, more than $18.5 million in local government revenue, and nearly 2,700 jobs from construction expenditures, according to DCA officials.
For a list of the developments receiving awards, visit the DCA website.