Georgia allocates over $13 million for home investment programs

The Georgia Department of Community Affairs has allocated over $13 million to communities throughout the state to support new housing investments.

The Georgia Community HOME Investment Program will distribute a total of $13.03 million in grant funds to 19 communities. These grants are made possible through allocations from the U.S. Department of Housing and Urban Development.

Officials have stated that the funds from CHIP will be utilized for meeting the requirements of affordable housing construction.

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“Housing plays a vital role in meeting the needs of Georgia residents,” emphasized DCA Commissioner Christopher Nunn. “I commend these communities for their diligent efforts in finding viable solutions to address the issue of affordable housing.”

The allocation of CHIP funds is carried out through a collaborative and competitive process, where applicants undergo reviews and scoring. These funds are then awarded to communities in Georgia that showcase their dedication to offering secure, comfortable, and affordable housing options.

The Department of Community Affairs (DCA) has announced that new construction awardees will be eligible to receive a maximum of $1,500,000 for the purpose of building single-family homes. These homes will be made available to homebuyers who fall into the very low to low-income bracket. Additionally, communities can receive up to $500,000 for owner-occupied housing rehabilitation projects. To qualify for funding, homeowners must have an income that is less than 80% of the county’s area median income.

Officials said that the grant awards will be matched by the communities receiving the CHIP funds, with an amount exceeding $5 million.

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