MACON, Georgia (41NBC/WMGT) - The Macon Housing Authority is participating in a new federal pilot program that will help fund public housing for the next 20 years.
The Rental Assistance Demonstration will convert low-rent public housing to section 8 project based rental assistance for six properties. That means the federal government will sign a contract with the housing authority which will garuantee the MHA money for the next 20 years.
With that commitment, the housing authority can get loans from banks and lenders easier, which means they can improve and update the properties.
"It's a proven model, its been used in the private sector for decades now and we're looking forward to being one of the first in the county to try to apply it to public housing," John Hiscox, executive director of the Macon Housing Authority, said.
MAH plans to invest $7.5 million into the six properties.