Savannah Mayor Otis Johnson and members of Savannah City Council voted unanimously on Nov. 17 to establish the first municipal "affordable housing fund" in Georgia. The fund is designed to stimulate the construction and rehabilitation of housing for low- to moderate-income families throughout the city. (A copy of the final resolution, passed by Council, is attached.)\
 The fund would serve as a financing tool to complement the City's successful programs that create affordable housing communities, a process led by the City's Housing Department and the nonprofit Community Housing Services Agency (CHSA). Over time, Savannah's Housing Fund is expected to help fill the void left by a steady decline in U.S. Department of Housing and Urban Development dollars, traditionally a significant sources of housing funding in cities.
"This is a historic step for the City of Savannah, and for Step Up," said Robert James, Step Up board chairman. "Our organization has been advocting for several years for a housing fund. We are heartened by the Council's leadership in championing a new way to finance critically needed housing for our community's working poor."
The need for a new funding mechanism has been documented over the past decade by six City and Metropolitan Planning Commission studies and reports. The City's Advisory Committee also is charged with researching and developing the state enabling legislation that will be necessary to create a traditional housing trust fund.

Attachment	(click to download)
	Affordable Housing Resolution PASSED 11-17-11.pdf