PUBLIC HEARING – 2023 Low-Income Housing Tax Credit Applications for Developers | Flickr by European Central Bank
PUBLIC HEARING – 2023 Low-Income Housing Tax Credit Applications for Developers | Flickr by European Central Bank
The City of Douglas and the Douglas Team for the Georgia Initiative for Community Housing (G.I.C.H.) propose to partner with developers to create more affordable/low to moderate-income housing options for the citizens of Douglas.
NOTICE IS HEREBY GIVEN TO ALL INTERESTED PERSONS, THAT:
The City of Douglas, Georgia is working with the Douglas Team of the Georgia Initiative for Community Housing (G.I.C.H.) to partner with housing developers to create more affordable/low and moderate-income housing options for citizens in the city. Developers of low to moderate-income housing as well as market-rate housing are invited to apply for the Low-Income Housing Tax Credit (LIHTC) Program. The application, guidelines, and scoring information for this program can be found at https://www.cityofdouglasga.gov/gich for developers interested in applying. The deadline for submissions of applications from developers is 5:00 PM on February 22, 2023.
The Low-Income Housing Tax Credit or LIHTC program was enacted in 1986 during the Reagan Administration by the Tax Reform Act and is the largest producer of affordable housing today. The LIHTC program allocates Federal and State tax credits to qualified developers to construct rental units for low to moderate-income renters. The program is an Internal Revenue Service (IRS) program rather than a Department of Housing and Urban Development (HUD) program, and it is administered by the Georgia Department of Community Affairs (DCA), the state’s housing and community development agency.
The Housing Tax Credit program can be a positive asset for a community as it has stringent accountability standards from application through the 30-year affordability period, a period of time in which the owner must keep the rent affordable and is subject to DCA inspection and compliance requirements. It addresses the need for available, attractive, and attainable housing for seniors, working families, and individuals with disabilities.
A public hearing will be held by and before the Mayor and Board of Commissioners of the City of Douglas, Georgia on Monday, the 13th day of March, 2023 at 6 o’clock p.m. in the C. E. Weir Center at 307 E. Bryan Street Douglas, GA, 31533. Anyone (citizen, developer, or other) with comments, queries, or interests in the LIHTC Program should be in appearance at the said meeting on the above-stated date. At said time and place all such persons shall have the right to appear and be heard. Please feel free to visit https://www.cityofdouglasga.gov/gich for more information if you are not available to be present at the aforementioned meeting. Based on the completion of construction at the new City Hall, the location for any regular meeting of the Mayor and Board of Commission may change to 302 S. Madison Avenue.
Any person with special needs relating to disability access or foreign language should contact Wynetta Bolder, City Clerk, at (912) 389-3405. Persons with hearing disabilities may consider using the Georgia Relay Service at 1-800-255-0135. For more information, please contact Georgia Henderson, Director of Community Development, at (912) 383-0277.
Original source can be found here.
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