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Georgia Initiative for Community Housing
The Georgia Initiative for Community Housing (“Initiative” or “GICH”) offers communities a three-year program of collaboration and technical assistance related to housing and community development. The objective of the Initiative is to help communities create and launch a locally based plan to meet their housing needs.
Low-Income Housing Tax Credit (LIHTC) Information for Developers
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 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 listed under "Developer Resources" below 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.
DEVELOPER RESOURCES
2023 Low-Income Housing Tax Credit (LIHTC) Application
2023 Low-Income Housing Tax Credit (LIHTC) Guidelines