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Thousands in Savannah, Georgia, are on the Section 8 federal voucher program waitlist with the Housing Authority to receive rental assistance.
Devoting city-owned property to housing development implements a policy recommendation from the 2021 Housing Savannah Action ... (made affordable by a Low-Income Housing Tax Credit); 2.4-acre park ...
Savannah, Georgia. Increase in homeownership costs from 2021 to 2024: 97% ... In 2024, homebuyers need a household income of $99,600 to pay 30% or less of their income toward housing in Savannah ...
The LIHTC provides funding for the development costs of low-income housing by allowing an investor (usually the partners of a partnership that owns the housing) to take a federal tax credit equal to a percentage (either 4% or 9%, for 10 years, depending on the credit type) of the cost incurred for development of the low-income units in a rental housing project.
The LIHTC, established in 1986, stands as a groundbreaking departure from the typical structure of supply-side housing programs, which primarily relied on subsidizing low-income housing. As of 2010, this innovative approach yielded the construction of 1.5 million low-income housing units. [38]
The push for state-level policy in housing is one part of Savannah's broader efforts to address its near 10,000-unit housing shortage. ... A bill submitted to the Georgia General Assembly in 2023 ...
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