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Kemp approves $250 million in bonds for workforce housing

Georgia Governor Kemp delivers the 2023 State of the State address on Jan. 26 as Lt. Gov. Burt Jones looks on.
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Georgia Governor Kemp delivers the 2023 State of the State address on Jan. 26 as Lt. Gov. Burt Jones looks on.

Georgia Governor Brian Kemp has approved the issuing of a quarter-billion dollars in bonds for the Georgia Housing and Finance Authority to finance loans to build new housing for low and middle-income Georgians.

Kemp's executive order, signed last week, puts the focus on housing affordability as companies like Hyundai, Rivian, SK Batteries, and Qcells invest billions of dollars on Georgia manufacturing plants that will likely attract new residents.

Georgia Chamber of Commerce president and CEO Chris Clark says part of the problem is people wanting certain kinds of homes and certain neighborhoods.

"This Nimbyism that says, 'I only want a three acre house built in my neighborhood on a golf course' - that's unrealistic for young men and women, and it's unrealistic for seniors," Clark said.

Clark says workforce housing is second only to workforce availability and Georgia's ability to attract new businesses.

Kemp has also proposed spending nearly $36 million dollars from this year’s amended budget to create a rural workforce housing fund, with the aim of providing affordable housing for thousands of workers that are being lured to Georgia for jobs.

That program would be focused on helping local governments finance the infrastructure needed for building new housing developments.

If the governor’s budget recommendation is approved, those funds would be reallocated from existing spending items.