Georgia allocates over $13 million for housing investment programs

The Georgia Department of Community Affairs is providing over $13 million to communities throughout the state for new investments in homes.

The Georgia Community HOME Investment Program has allocated a total of $13.03 million in grant funds from the U.S. Department of Housing and Urban Development to 19 communities, as announced by the Department of Community Affairs (DCA).

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

DCA Commissioner Christopher Nunn expressed the importance of housing as a critical need in Georgia. He commended the communities for their thoughtful efforts in finding solutions for affordable housing.

The allocation of CHIP funds is a rigorous and cooperative process that involves thorough reviews and scoring of applicants. These funds are 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 it will be providing financial assistance to support the construction of single-family homes for low-income homebuyers. Under the program, successful applicants will receive grants of up to $1,500,000. Additionally, communities will also be eligible for funding of up to $500,000 for owner-occupied housing rehabilitation projects. To qualify for this assistance, homeowners must have an income that is less than 80% of the county’s area median income.

Officials stated that the grant awards will be supplemented by over $5 million from the communities receiving the CHIP funds.

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MBS Staff
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