The Cooperation Agreement between Community Housing Services Agency, Inc. (CHSA) and the City of Savannah (City) formalizes a long standing affordable housing partnership between the two organizations. The City took the lead in establishing the non-profit housing corporation, CHSA in 1989. It was formed to purchase, develop, finance and implement affordable housing partnerships with lenders, developers and property owners in ways that would otherwise be difficult for the City to undertake, such as borrowing and loaning money from banks for affordable housing.  Another recent example is serving as the master developer for the redevelopment of the 44 acre Strathmore Estates Apartment site into Savannah Gardens.  As part of the City’s support for CHSA, its employees receive payroll services and benefits afforded City employees, for which CHSA reimburses the City annually. The City also provides CHSA with in-kind services such as office space, utilities, phone, computer and accounting services, the value of which the City can count toward its HOME grant match requirements. Continuing the provision of these services, benefits and in-kind assistance makes it possible for CHSA to continue to serve as the City’s non-profit housing partner as envisioned when it was established in 1989.
 

Approval