NC Housing Finance Agency

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Presentation transcript:

NC Housing Finance Agency New Directions in Rural Housing

First program goal: Stock Plans owned by NCHFA Efficient use of space Energy Efficient Physically accessible Can be modular built

Four plan types One bedroom detached One bedroom duplex Two Bedroom Detached Two Bedroom Duplex

Second Program Goal Predevelopment Loan Pool to fund: Real Estate Consultant Architecture & Engineering Survey & Appraisal Soils Analysis Phase I Environmental, etc.

Project #1 Ahoskie – Hertford County 12 one bedroom units for persons with disabilities 100% project based rental assistance $80,000 predevelopment loan Developer: Ahoskie Housing Authority

Project #2 Red Springs – Robeson County 8 units for persons with disabilities 100% project based Section 8 4 one bedrooms, 3 two bedrooms 1 three bedroom $115,000 predevelopment loan Developer: NC Indian Housing Authority

Project #3 Pittsboro – Chatham County 1 two bedroom property for persons with disabilities Developer: Brick Capital CDC

Program Details: $300,000 grant from HUD Rural Housing and Economic Development Program $195,000 provided in predevelopment loans to two projects 20 units funded 21 units used stock plans Program income from repaid predevelopment loans has created a loan pool for future projects