The North Carolina Housing Finance Agency (NCHFA) released the list of developments across the state that, combined with other key financing, will receive federal tax credits in order to create or preserve affordable housing across North Carolina.
The projects selected to receive 9% Housing Credits have a total unit count of 1,503. Approximately 262 of those units are for preservation, and the remaining will be brand new apartment homes for families, seniors, and our workforce. In order to reach this number, approximately $31.5 million in Housing Credits were awarded, $12.2 in Rental Production Program funding (RPP) and $32.8 million in Workforce Housing Loan Program (WHLP) funding.
The projects receiving 4% Housing Credits and tax-exempt bond financing across the state total over 3,400 affordable units: 3,200 will be new construction, and 155 units (1 project) will use the 4% Housing Credit and Bond Financing for rehab purposes. In total, 49 projects were selected to receive housing credits and other financing in order to create or preserve 4,942 rental units for communities in 26 different counties across our state.
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