The N.C. Office of Recovery and Resiliency (NCORR) has launched the third phase of the Affordable Housing Development Fund (AHDF) program, which invites local governments to apply for financing for multifamily or single-family housing rehabilitation and new construction outside of the 100-year floodplain. A total of $47 million will be awarded by fall 2023 for housing that increases community resilience. The funds will be used to increase the availability of safe, affordable housing in areas of the state that experienced major damage from hurricanes Matthew and Florence. Most of these areas were already experiencing a housing shortage prior to receiving damage from multiple hurricanes. The award funds will promote rebuilding and replacing some of the lost housing stock.
Funding is available for projects located in any of the federally identified most impacted and distressed (MID) counties, with priority given to six counties that are not currently supported by the fund. Bladen, Duplin, Jones, Pamlico, Pender and Scotland county projects are strongly encouraged to apply for this third round of AHDF funding.
Letters of interest will be accepted from local governments from May 15 through June 27 in advance of the program application period, which begins June 28. Letters of interest are nonbinding but mandatory for applications. Information about the Letter of interest process and related virtual information sessions for grant applicants are available on the Affordable Housing Development Fund website. An initial information session will be held on Wednesday, May 24 at 11 a.m. Additionally, eligibility requirements are included in the online manual. Applications will be accepted until 5 p.m. Aug. 25 and awards will be announced in October.
The Affordable Housing Development Fund Program is supported by North Carolina’s HUD Community Development Block Grant–Disaster Recovery funding for hurricanes Matthew and Florence. It is one of multiple housing programs overseen by NCORR through its Community Development Office, which also administers the Multi-family Development Fund, Public Housing Restoration Fund and Infrastructure Program. In addition to disaster recovery and affordable housing, the office manages programs that support resiliency, mitigation, strategic buyout, infrastructure, local government grants and loans, and pandemic-related rent and utility assistance.