Cairo City Council to apply for $2.5M in grant funds for affordable housing

• Monday Cairo's city council decided that applying for $2.5 million in state grant funds was the right move in hopes of building affordable homes in the city.
• It's a grant offered by Georgia's Department of Community Affairs called the Rural Workforce Housing Initiative.
• Watch the story to hear why city leaders say this grant could aid a ongoing problem when it comes to limited housing availability.

BROADCAST TRANSCRIPT:

WTXL reporter AJ Douglas was standing in what appeared to be an empty lot but the city council here is working to use the space to create more affordable housing for buyers.

Those close to these efforts to find out how a project on this scale will impact housing in this community.

"You're going to also have rental houses that come open because people are going to move from a rent to a buy situation,” said Charles Renaud, a real estate broker for Realty Mart INC.

Renaud said the city's decision to apply for $2.5 mil. Grant funding through Georgia's Department of Community Affairs is the right move for Cairo.

"It's a game changer,” said Renaud.

The Rural Workforce Housing Initiative aims to aid rural communities through grant funding to establish economic opportunities in an effort to expand economic security among rural areas.

City manager Julian Brown said the proposed 70 affordable homes would fill a growing need.

"So with the housing shortage we were really trying to hit that sweet spot where school teachers, people who work for the city, healthcare workers, [etc.]. Could maybe find an affordable home,” according Julian Brown, city manager, City of Cairo.

If approved for the grant homes would be priced between $170,000 to $220,000.

Georgia Department of Community Affairs released the Georgia Housing Needs Housing Assessment reporting 29.03% of all Georgia households were estimated to be cost-burdened in 2019, , paying more than 30% of household income on monthly housing costs.

"If the grant is not awarded then the price of the homes would have to increase,” said Brown.

Locals like Renaud said affordable price points for his clients are closer to the 100,000 mark but right now inventory is low.

"It's a price point that we're not filling right now but hopefully with these grants we can start attacking it,” said Renaud.

The city council will submit the application in September but renting shouldn't start packing their bags just yet because if the application is approved the grants funds won't be dispersed until January of 2025.