Isn’t $50 Million too much to ask for the NC Housing Trust Fund?
No. The state spends $15 Billion annually. $50 Million is only 0.3% of that amount. Commitment to other pressing needs have been addressed with significant appropriations. For example, Smart Start – $190 Million, Clean Water Management Trust Fund – $62 Million, Tuition grants – $51 Million. Other states have realized that an investment in housing pays dividends for those in need and the economic climate in general. Some examples are Florida – $200 Million/yr. Ohio – $50 Million/yr. & Washington – $80 Million/yr. Also, the Lee Act designed to attract businesses to NC costs the state about $50 Million per year and a special session was held in 2003 to spend $36 million to attract Merck to Durham to create 300 jobs.
