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Statesboro Summit awarded $9.75 million in state low-income housing tax credits
Summary
City and housing-authority officials announced that Statesboro Summit won approximately $9.75 million in low-income housing tax credits to support redevelopment, a project staff said has been in development since 2022 and requires follow-up with the Department of Community Affairs.
City officials and the housing authority announced that the Statesboro Summit redevelopment secured a competitive award of roughly $9,750,000 in low-income housing tax credits.
A housing-authority representative told the council the authority began preparing to participate in the LIHTC program in 2022 and that award processing and syndication remain to be completed. Mr. Bennett said the award could support rehabilitation of multiple housing units and thanked the housing authority and development partners for their work.
Council members and staff said the award is a major step for affordable-housing investment in Statesboro; staff emphasized that substantial paperwork remains, including follow-up with the Department of Community Affairs and syndicators who convert the credits to project financing.
The council received the announcement with applause and noted additional steps required to close financing.
