Georgia Ports Authority Commits $6 Million to Boost Affordable Housing in Savannah Area
In a significant move, the Georgia Ports Authority has pledged a substantial sum of $6 million over the next several years to enhance affordable housing options in Savannah and its neighboring communities. This generous contribution to the Savannah Affordable Housing Fund marks the largest external donation since its establishment 12 years ago, as disclosed by city officials in a recent news release.
The Georgia Ports Authority, a vital state agency overseeing the bustling seaports of Savannah and Brunswick, is recognized for the Port of Savannah’s distinction as the fourth-busiest U.S. port for retail goods and containerized cargo shipments.
The funding allocated by the ports authority will predominantly serve two essential purposes: facilitating essential home repairs for individuals and families with low to moderate incomes and providing valuable down payment assistance to eligible first-time homebuyers residing in Savannah, Garden City, and Port Wentworth. These communities house a substantial portion of the workforce contributing to the success of the Savannah port.
Georgia Ports Authority CEO Griff Lynch expressed the importance of this endeavor, stating, “These hard-working people have helped make our successes possible, and it is our duty to help them make their housing dreams attainable.”
The Savannah Affordable Housing Fund, initiated by city officials in 2011, was established with the primary objective of bolstering the development and preservation of affordable housing within the region. As part of their commitment, the port authority will channel $750,000 annually into the fund for an eight-year period.
This generous contribution underscores the commitment of the Georgia Ports Authority to support the well-being and housing aspirations of the communities it serves, marking a significant step toward enhancing affordable housing options for those in need.