1. NC Housing Finance Agency
New Directions in Rural Housing

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

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

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

5. 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

6. 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

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

8. 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