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Council approves $500,000 loan commitment and awards local GICH point for proposed senior affordable project
Summary
Council voted to commit $500,000 (ARPA-sourced) as a loan through the Canton Housing Authority to support TPG Residential's Low-Income Housing Tax Credit (LIHTC) application for the Summit at Hickory Creek and separately awarded the city's Georgia Initiative for Community Housing (GICH) point to TPG to boost its application score.
The council voted to commit a $500,000 loan, delivered through the Canton Housing Authority, to support TPG Residential's Low-Income Housing Tax Credit (LIHTC) application for the Summit at Hickory Creek project. Staff confirmed the funds identified for the loan are ARPA funds and that the request mirrors a prior commitment the council approved for a different…
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