RALEIGH — The Local Government Commission approved more than $1.5 billion in requests at its April 2 meeting, including a $750 million request from the North Carolina Housing Finance Agency to increase affordable housing options. Acknowledged.
This amount far exceeds the $418.5 million affordable housing value approved by the Local Government Commission (LGC) in 2022.
The North Carolina Federation of Local Governments says housing affordability in the state is a “crisis,” according to a press release from Falwell's office.
“The National Low Income Housing Coalition, in its 2024 Annual Report issued in March, found that North Carolina has 326,751 very low income households, but 130,930 affordable rental housing units. “We decided that there was no other option,” the press release states. “Research shows that by 2030, new housing construction will fall far short of the need for an additional 900,000 homes to be built due to population growth.”
Other LGC approvals include:
- Wake County: $321 million in bond refinancing for school construction and public improvement projects, plus $137 million in limited liability bonds to refinance bank installment loan agreements for school buildings, equipment, and renovations.
- North Carolina Turnpike Authority: Approves reimbursement of $215 million in Build America bonds for the Monroe Connector Toll Road.
- City of Charlotte (Mecklenburg County): $137 million for certificates of participation to improve government buildings, purchase a police helicopter, acquire vehicles and equipment, and refinance debt.
- CarolinaEast Health System (Craven County): $45 million unsecured loan facility for operating expenses due to financial needs related to cyberattack.
- City of Wilmington (New Hanover County): $32 million in limited debt bonds for road projects and sports complex construction.
- Inlivian Housing (Mecklenburg County): $30 million conduit revenue bond loaned to Poplar Grove Preservation for the acquisition and rehabilitation of a multifamily housing facility.
- Cleveland County Water District: $12 million USDA bond for weir improvements to prevent erosion.
- High Point (Guilford County): $5.4 million in general obligation bonds for development to widen Samet Drive and improve Triangle Lake Road.
- Southern Pines (Moore County): Approximately $3 million in state revolving loans for wastewater collection system improvements.
- Manteo (Dare County): $1.8 million state revolving loan to replace chlorination system with ultraviolet light system and acquire backup generator.
- Roxboro (Person County): $949,800 installment purchase to replace police vehicles and garbage trucks.
- Junaluska Sanitary District (Haywood County): $750,000 installment purchase to acquire real estate to relocate existing offices.
Additionally, LGC has received information that 139 counties and municipalities appear to have missed the April 1 deadline to submit their annual audits. Mr. Falwell's office released a breakdown of missed audits, showing that 122 of 549 local governments and 17 of 100 counties are past their deadlines.
In addition, 103 local government departments have late audits in 2023 only, 33 local government departments have missed an audit for two years, and three local government departments have missed an audit for more than three years. There is.
