The Greenville Housing Authority (TGHA) is a corporate body organized pursuant to Title 31, Chapters 3 and 11 of the laws of the State of South Carolina. The jurisdiction of TGHA includes all incorporated and unincorporated areas of the County of Greenville, South Carolina, excluding the City of Greer. The Housing Authority is governed by a seven-member Board of Commissioners. Members of the Board are appointed by the Mayor and ratified by City Council. One member must be a resident of a TGHA owned property. Commissioners serve for five years and have unlimited terms.
TGHA was created in 1938 and for many years built, owned and managed only traditional public housing pursuant to Section 9 of the 1937 Housing Act. In 1996, TGHA was one of the first recipients of a federal HOPE VI grant to redevelop its largest public housing community using multiple mixed financing methods including Low Income Housing Tax Credits, to create a new mixed income community.
Today, TGHA has extensive development and management experience having developed over $100 million dollars of new affordable housing through mixed financing methods. TGHA has successfully implemented two large HOPE VI redevelopment projects and participated in both the ownership structure and managed the subsequent mixed income properties. TGHA staff are tax credit certified and TGHA provides asset management services and oversight of six tax credit properties located on land owned and leased by TGHA.
TGHA’s real estate portfolio includes three primary property types:
- Tax Credit Properties in which TGHA, through a wholly owned affiliate, serves as the Managing Member or Managing General Partner.
- Rental Assistance Demonstration (RAD) properties in which TGHA, through a wholly owned affiliate, is the sole owner of the property.
- Mixed Finance properties on land owned by TGHA and for which TGHA provides asset management services and oversight to enforce regulatory requirements. In all of these properties, TGHA maintains a first right of refusal upon expiration of the initial tax credit compliance period.
Greenville Redevelopment Corporation is a 501c3 created and controlled by TGHA to serve as the sole member of single asset entities. A distinct single asset entity is created for each property ownership structure. Currently, TGHA has 2 properties under construction; and 2 properties in development scheduled for closing in early 2017. The chart below summarizes TGHA’s portfolio as of the second quarter of 2017.