Success through Failure: A Different Kind of LIHTC Story

摘要

There have been several private Low-Income Housing Tax Credit (LIHTC) developments over the last 30 years within our community. However, that is not the success story I want to share. I want to share a different success story, one of success through failure. The City of Thomson, Georgia was approached in 2010 and 2011 by a developer who wanted to apply for a single-family rental development with 9 percent tax credits. The city had spent the year prior to that in the Georgia Initiative for Community Housing (GICH) program and the Mayor wanted the Housing Authority to be a local participant. Unbeknownst to us all, this began a process that would completely revamp our city.