About Us

- Organizational profile & history

- Report on Achievements

- Press releases

- Calendar of events

- Housing 400 Initiative

- Where the financing comes from

- Fact sheets on programs & financing

- Mission & values

- Board of Directors

- Financial reports

- Agency showcase

- NC Affordable Housing Conference

- Housing North Carolina Awards

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- Contact directory

Housing 400 Initiative

With the passing of the 2007-2008 state budget, the North Carolina General Assembly continued its support for persons with disabilities – the Housing 400 Initiative - by funding the North Carolina Housing Trust Fund (HTF) with $7.5 million for development of independent and supportive living apartments.  The General Assembly also increased operating subsidy funding by $3.5 million to $4.7 million to make units affordable at Supplemental Security Income (SSI) levels, currently ~$620 a month. 

The North Carolina Housing Finance Agency (Agency) manages the HTF and the North Carolina Department of Health and Human Services (DHHS) manages the operating assistance.

The Agency and DHHS staff have evaluated the programs created under the Housing 400 Initiative in 2006 and requested, received, and incorporated feedback from various interested parties.

The Key Program Operating Assistance and Preservation Loan Program

The Agency and DHHS have developed a process to award Key Program operating assistance to already existing units within communities, making them affordable to persons with disabilities on SSI incomes.  For more information see the following documents:

Criteria and Requirements
Application
Appendix A (rules)
Appendix A (template)
Appendix B (experience)

We are pleased to announce a new round of funding is now available. The application deadline is April 18, 2008.

For more information about the Key Program Operating Assistance, PLP or Housing Credit Awards, contact Scott Farmer, NCHFA Director of Rental Investment Programs, at bsfarmer@nchfa.com or (919) 877-5641.

Recent History

The funding in the recent State budget builds on work begun in July 2006, when the General Assembly created the Housing 400 Initiative to increase the supply of “independent and supportive living apartments for persons with disabilities” that are affordable to persons with incomes at the level of SSI.  The initiative was supported with a $10.9 million appropriation to the Housing Trust Fund for the development of rental housing and a $1.2 million allocation to DHHS to provide operating assistance for 400 of the units financed.

Between July 2006 and October 2006, the NC Housing Finance Agency and DHHS collaborated to best utilize these funds.  Three development programs were designed; the Supportive Housing Development Program (SHDP400), the Preservation Loan Program (PLP400) and the Housing Credit Program Targeting Plan.  All were integrated with the Key Program, which manages the operating assistance.  These applications were available October 2006.  The Agency also made available predevelopment and construction financing, on a case-by-case basis, to qualifying projects under SHDP400. 

As of August 2007, 425 units were awarded through the Housing 400 Initiative, 120 by SHDP400, 27 by PLP400 and 278 by the Housing Credit Targeting Plans.  The $10.9 million of capital funds was leveraged with other rental development money in the form of federal and state tax credits, HOME, undesignated HTF, other federal subsidies, and funds from local governments and banks.   Applicants ranged from nonprofit and for-profit corporations to housing authorities, all partnered with local lead agencies that act as the referral point for potential tenants supported by their local service providers.   

The new housing is distributed in 33 counties, from Beaufort to Chowan in the east, to Buncombe and Haywood in the west. The apartments are located in towns with populations ranging from 326,000 (Raleigh) to 1,386 (Clyde). View Map.

Facts on the Housing 400 Initiative

For more information about the Housing 400 Initiative, contact either Patricia Amend, NCHFA Director of Policy, Planning & Technology at plamend@nchfa.com or (919) 877-5717 or Julia Bick, DHHS Housing Coordinator at Julia.Bick@ncmail.net or (919) 733-4534.