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Council hears TBG request for $500,000 loan and GIC point as part of senior LIHTC bid; formal votes set for April 17
Summary
TBG Residential asked the city to renew a $500,000 loan and a Georgia Initiative for Community Housing (GIC) point to support a 96‑unit senior affordable project; council discussed the requests and will consider them at upcoming meetings before the DCA application deadline.
TBG Residential representatives returned to the Canton City Council on April 3 to seek city support for the Summit at Hickory Creek, a proposed 96‑unit affordable senior housing project. TBG asked the city to authorize a $500,000 loan and to award the city’s single GIC point to strengthen the project's low‑income housing tax credit (LIHTC) application.
City staff and TBG emphasized the loan would be structured so the Canton Housing Authority…
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