Housing:

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Roswell Housing Authority has been passing yearly inspections “with flying colors.” She attributed some of the success to the board’s partnership with the Gainesville Housing Authority, which now manages its properties.

Because of the redevelopment, Parrish said the 40 replacement units would be open to anyone seeking a onebedroom, rather than limited to seniors and people with disabilities. The units will also be vouchered, meaning tenants would only pay for up to one-third of their income for rent.

Redevelopment will also add 61 units. While unvouchered, those units will be open to tenants who took a voucher upon their displacement. The Roswell Housing Authority is also trying to “sprinkle” two bedrooms into the new development, Parrish said, because many seniors require caregivers.

Another 55 income-based housing units in Pelfrey Pines are slated for a second phase in redevelopment.

Funding

To help fund the project, the board discussed a 9-percent Low-Income Housing Tax Credit application at its Feb. 14 meeting, which would require the board to secure $6 million in funding — half the price tag the board anticipated in a 4-percent application announced last July.

Low-Income Housing Tax Credits give local agencies annual budget authority to issue tax credits for the acquisition, rehabilitation, or new construction of rental housing targeted to lower-income households.

In the past, Parrish said 9-percent applications have funded around 90 percent of development projects with a compliance period of 15 years. Some of the project would also be funded through a mortgage.

A lot of money is spent up front, Parrish said. Penrose, the developer, must perform a series of studies to provide details to the Georgia Department of Community Affairs, or DCA, to qualify in the application process. But Penrose is committed to covering those upfront costs, Parrish said.

The board plans to submit the application in May, but it won’t know until November if it will receive any tax credits. If all goes according to plan, the Roswell Housing Authority would have new units in fall 2025.

The Roswell Housing Authority met with the city a few weeks ago about the project and gap funding if the application were to be approved with an ask of $4 million. The city voiced its support, Parrish said, and is currently figuring out what form that would be.

“I left the meeting feeling that they’re definitely trying to work with us to find a solution to address the issue,” said Shenetra Gates, resident commissioner for the Roswell Housing Authority. “And that they were concerned about the wellbeing of the residents.”

Previously, the city committed $1.7 million in funds in infrastructure to the Veranda at Groveway housing development. The Veranda at Groveway, which sits near 199 Grove Way, opened in 2017 and is a 101-unit facility offering one- and two-bedroom apartments for seniors 62 and older. While Veranda is a Roswell Housing Authority redevelopment project, the agency owns less than .01 percent of the partnership.

City support

Parrish said the board brought forth some ideas for how to finance the gap, such as Community Development Block Grant program funds through the U.S. Department of Housing and Urban Development. Parish also said she spoke with Gov. Brian Kemp briefly, who said he’s open to a discussion on funding opportunities. She said she has spoken to members of Congress as well.

“Our focus is on the residents, these current residents that we have,” Parrish said. “Our focus is on taking care of them.”

The board also increased rental rates for the Myrtle Street Apartments at its Feb. 14 meeting.

Myrtle Street isn’t a HUD property, or federalized, but Parrish said the Roswell Housing Authority has a $350,000 loan on the property that could become a grant if the board adheres to its terms, like housing homeless people and veterans.

Over the next three years, rents will increase at a rate of 5 percent. Tenants paying a current rate of $715 will arrive at $826, and tenants paying $825 will end up paying $955 in three years. New tenants will be charged the new rates.

Beth Brown, executive director of the Gainesville Housing Authority, said the rates haven’t been raised in 10 years.

“We’re just trying to keep up with covering our costs,” Brown said.