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Commission approves $800,000 Home ARP loan for Sandhills Estates affordable housing project
Summary
The commission approved an $800,000 loan from Home American Rescue Plan funds to support construction of Sandhills Estates, a roughly $16 million, 40-unit DCA tax-credit project in the Sandhills Revitalization Area; loan is contingent on state DCA approval and is structured as repayable funding.
Augusta commissioners on May 20 approved an $800,000 loan from Housing and Community Development—s Home American Rescue Plan (Home ARP) funds to support construction of Sandhills Estates (previously referred to as EW Estates) in the Sandhills Revitalization Area.
Commissioner Johnson, who led discussions on the item, said the project represents roughly $16 million in private/public investment and will deliver 40 affordable units under the Georgia Department of Community Affairs (DCA) Low Income Housing Tax Credit program. "This is a $16,000,000 project," Johnson said during the meeting.
The loan…
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