The Georgia Department of Community Affairs (DCA) on Nov. 30 announced the award of nearly $26 million in federal housing tax credits to construct or rehabilitate 33 affordable rental housing properties throughout the state. One of those properties is in Newnan.
The developments include affordable housing for working families, housing for Georgia seniors and housing for persons with disabilities and were selected from 75 applications in the annual competition.
Foxworth Forest in Newnan will have 72 family units. The remainder of the properties are located in both rural and urban areas across the state.
“The federal housing tax credit impact in Georgia is unparalleled. These properties allow those who serve and have served their communities to live and thrive in those communities,” said DCA Commissioner Camila Knowles. “The quality and energy efficiency of these properties rivals that of the private sector, making affordable housing an anchor in Georgia’s communities and providing needed workforce and senior housing.”
In Georgia and across the nation, the housing credit is a main tool to create and preserve affordable housing for households that need it most, including working families, veterans, people with special needs, seniors, teachers, nurses, firefighters and police, DCA said.
In Georgia, the housing credit has financed the development of more than 146,000 homes, supported nearly 165,400 jobs and generated $15.76 billion in local income and $6.2 billion in tax revenues, according to DCA.
