How does the NC Housing Trust Fund work?
The NC Housing Trust Fund was created in 1987 and is administered by the NC Housing Finance Agency. It provides “bricks and mortar” financing for affordable housing throughout North Carolina. None of the Trust Fund is used for administrative costs. The Trust Fund offers flexible financing to address the full range of housing needs in North Carolina – homeownership, rental housing, independent living apartments for the elderly, and supportive housing for persons with disabilities. The NC Housing Finance Agency was created by the General Assembly in 1973 and is a self-supporting public agency. Oversight of the Housing Trust Fund is done by the NC Housing Partnership, whose members are appointed by the Governor and the Legislature. The process for spending the Housing Trust Fund is as follows: 1. General Assembly appropriates money to the Housing Trust Fund. 2. Housing Partnership approves funding for each program. 3. Each program releases Notices of Funding Availability (NOFAs) or equiva
