The North Carolina Housing Finance Agency will be receiving $65.6 million in HOME-ARP funds from the American Rescue Plan. HOME-ARP is meant to assist individuals or households who are homeless, at risk of homelessness, and other vulnerable populations, by developing and renovating rental housing and non-congregate shelters, providing rental assistance, and offering supportive services, with the goal of reducing homelessness and increasing housing stability.
The funds are administered by the Department of Housing and Urban Development (HUD). HOME-ARP funds must be spent by September 30, 2030. An additional $71.8 million HOME-ARP funds have been allocated to local participating jurisdictions who will determine their own use of funds. Allocations of HOME-ARP can be found on HUD’s website.
HUD requires all states and local recipients to submit a plan summarizing their intended program in order to receive the funds. Once drafted, the plan will be released for a 15-day comment period during which stakeholders will have an opportunity to provide feedback in writing. The Agency will also hold a formal public hearing to review the proposed plan and solicit additional feedback.