The North Carolina Local Government Commission (LGC), chaired by State Treasurer Brad Briner, has approved over $370 million in financing for affordable housing and retirement home projects across the state. According to a press release, this initiative is part of ongoing efforts to address housing affordability challenges in North Carolina.
Key projects approved by the LGC include $101.9 million for the N.C. Medical Care Commission to expand and renovate retirement facilities, $68 million for Inlivian, Charlotte’s housing authority, to support a multifamily rental development, and over $56 million for the Raleigh Housing Authority for local housing projects.
Another significant allocation was the $55 million bond awarded by the LGC to the North Carolina Housing Finance Agency to support low- to moderate-income housing projects. A joint study by the N.C. League of Municipalities and the N.C. Association of County Commissioners notes that the housing affordability crisis in the state is widespread. Additional approvals included funding for projects in Clayton and Durham to help develop affordable housing for local residents.
The LGC also approved non-housing projects, allocating nearly $97 million to Winston-Salem for water, sewer, and solid waste improvements to strengthen essential public services. Cleveland County received an $89 million bond for a new justice center, while Franklin County secured a $38 million bond for various infrastructure projects. Additionally, the Cape Fear Public Utility Authority will upgrade its wastewater treatment plant with a State Revolving Fund loan of nearly $22.4 million.
At a local level, municipalities on the Unit Assistance List, including Bailey, Stoneville, and Red Springs, received LGC approval for financing critical public service vehicles. Meanwhile, towns such as Speed and Taylortown faced scrutiny for failing to submit required audit reports, leading to consequences and, in some cases, potential support through the state’s Viable Utility Reserve (VUR) grants.
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