§ 122E-1 – Short title.

122E-1. Short title. This Chapter shall be known and may be cited as the "North Carolina Housing Trust and Oil Overcharge Act." (1987, c. 841, s. 1.)

§ 122E-2 – Definitions.

122E-2. Definitions. As used in this Chapter: (1) The term "substandard unit" means a housing unit which, by reason of dilapidation, deterioration, age or obsolescence, inadequate provision for ventilation, light, air, sanitation, or open spaces, high density of population and overcrowding, unsanitary or unsafe conditions, or the existence of conditions which endanger life or property […]

§ 122E-3 – North Carolina Housing Trust Fund.

122E-3. North Carolina Housing Trust Fund. (a) There is established a North Carolina Housing Trust Fund, separate and distinct from the General Fund. (b) The Fund shall consist of monies received under this act and any other sources of revenue, public or private, dedicated for inclusion in the Fund. (c) The State Treasurer shall serve […]

§ 122E-3.1 – Community Living Housing Fund.

122E-3.1. Community Living Housing Fund. (a) Definitions. – The following definitions apply in this section: (1) Catchment area. – As defined in G.S. 122C-3. (2) Targeted units. – Units within Low Income Housing Tax Credit developments that are specifically designed to facilitate the inclusion of individuals with disabilities. (b) Creation and Source of Funds. – […]

§ 122E-4 – North Carolina Housing Partnership created; compensation; organization.

122E-4. North Carolina Housing Partnership created; compensation; organization. (a) The North Carolina Housing Partnership is hereby created within the North Carolina Housing Finance Agency to establish policy, promulgate rules and regulations, and oversee the operation of the Fund. The Partnership shall be constituted to coordinate private enterprise and investment with public efforts to address the […]

§ 122E-5 – Administration.

122E-5. Administration. (a) The North Carolina Housing Finance Agency shall administer the Fund in accordance with the policies, rules and regulations promulgated by the Partnership. (b) The Agency’s responsibilities shall include: (1) The Management of the overall program for the use of the fund; (2) Development of program design in accordance with policies established by […]

§ 122E-6 – Uses of funds.

122E-6. Uses of funds. Funds from the Fund shall be used to increase the supply of decent, affordable and energy-efficient housing for low, very low, and moderate income residents of the State as defined in G.S. 122E-2. Such funds shall be used to finance, in whole or in part, projects and activities eligible under this […]

§ 122E-7 – Eligible applicants.

122E-7. Eligible applicants. Eligible applicants shall include units of State and local governments including municipal corporations, for profit and nonprofit housing developers. Provided, however, that the Partnership’s rules and regulations shall ensure an equitable distribution of Fund funds based upon population and low and moderate income housing needs across the State. (1987, c. 841, s. […]

§ 122E-8 – Allocation of funds.

122E-8. Allocation of funds. (a) Monies within the Fund shall be allocated to eligible applicants under this Chapter by the Agency, in accordance with funding cycles established at least annually. The Partnership shall establish rules and regulations with full public input, including at least one public hearing for which adequate notice is provided in a […]

§ 122E-9 – Displacement.

122E-9. Displacement. In establishing criteria for G.S. 122E-8(a), the Agency shall give special attention to designing protections to provide that any lawful occupants who live in a project as defined in G.S. 122E-6(b) prior to rehabilitation or demolition shall not be displaced as a result of such activity, other than temporarily, in which case suitable […]