Housing trust fund

The Department of Housing and Urban Development's Assistant Secretary for Community Planning and Development awarded $4.712 million to the North Carolina Housing Finance Agency on November 24, 2025, under the Housing Trust Fund formula grant program (CFDA 14.275). The award funds production, preservation, and rehabilitation of rental housing for extremely low-income and very low-income households, with a minimum of 80 percent of funds required to support rental housing targeting households at or below 30 percent of area median income. The agency administers these funds directly or through qualified third-party administrators and passes the vast majority through sub-awards to developers and nonprofit organizations for multifamily rental housing projects located across the state, including disaster recovery efforts such as a Rental Production Program focused on Hurricane Helene recovery. The funding obligation runs through November 24, 2032, with place of performance in Raleigh, North Carolina. Under Housing Trust Fund rules, all funds must be committed to projects within 24 months and expended within 5 years. HTF allocation plans are due to HUD no later than August 16, 2026.