Low-income residents squeezed by exit from tax credit plan

Apartment complexes opt out of state program that kept rents lower.

News Story (Georgia)

Joshua Silavent
Gainesville Times (GA)
November 19, 2017
READ THE FULL STORY HERE

Tags: Housing: Affordability

Organizations mentioned/involved: Georgia Legal Services Program (GLSP)


DETAILS

Hundreds of lower-income families in Gainesville are facing significant rent increases as apartment complexes exit a state tax credit program that kept costs below market rates.

“This is potentially a huge loss of affordable housing for the area,” said Chad McCranie, a staff attorney with the Housing Preservation Project of the Georgia Legal Services Program who works extensively in Gainesville.

More than 50 percent of all renters in Gainesville are considered “cost-burdened,” according to census figures, meaning they spend more than 30 percent of their income on housing.