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Developer eyes apartments to be built with tax credits
by Debbie Lurie-Smith
Jan 16, 2014 | 1672 views | 0 0 comments | 43 43 recommendations | email to a friend | print
Josh Thomason and Max Elbe (seated at the left corner of the table) met with Jones County housing committee members last week requesting a letter of support.
Josh Thomason and Max Elbe (seated at the left corner of the table) met with Jones County housing committee members last week requesting a letter of support.
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The Jones County housing committee’s goal of affordable housing may be one step closer to reality following a meeting with a community development group last week.

Josh Thomason and Max Elbe came to Gray Jan. 6 to meet with the housing committee members with a two fold goal. The first was to talk about their proposed development that would be located off Highway 18 East just past the Jones County Sheriff’s Department, and the second was to ask for a support letter for the project.

Thomason and Elbe are principals with Peachtree Housing Communities, and this was not their first visit to Gray.

At the conclusion of last week’s meeting, housing committee chairman Donald Black agreed to provide a letter of support for the project.

“When we were accepted into the Georgia Initiative for Community Housing program, our goal was to find affordable housing. I’m excited about this,” Black commented.

According to the company’s website, Peachtree Housing Communities was formed in 2010 and specializes in projects that benefit from federal and state tax credits and grant programs.

A tax credit differs from an income tax deduction. An income tax deduction lowers the amount of income subject to taxation. A tax credit, however, lowers the amount of tax owed and is leveraged with private investment to allow the development to construct higher quality units, which can be made more affordable.

For the full story, pick up a copy of this week's newspaper or subscribe to our e-Edition at http://ee.jcnews.com.
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