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NCGA Alert: Governor Roy Cooper Releases Proposed FY 2023-25 Budget

Stephanie Watkins-Cruz, Director of Housing Policy

Yesterday on Wednesday, March 15, Governor Roy Cooper released his proposed budget for fiscal years 2023-2025. The budget recommendations, titled “First in Opportunity,” can be found by clicking here. Here is a high level summary of the appropriations related to housing that we want to bring to your attention:

Housing Trust Fund

  • The proposed budget recommendation is that $50 million in non-recurring funds be allocated to the Housing Trust Fund. 

Workforce Housing Loan Program

  • The proposed budget recommendation is $35 million in non-recurring funds be allocated to WHLP.

Transitions to Community Living Initiative (Olmstead)

  • The proposed budget recommends an additional $1.5 million in recurring funds for additional “housing and tenancy support and wraparound mental health services following the US Department of Justice Olmstead Settlement,” bringing the total proposed recommendation to $15.6 million.

NEW: Workforce Housing Support

  • The proposed budget calls for $50 million dollars to be allocated to support the creation of housing for households earning between 60-120% AMI – stated as a recommendation for “Missing Middle Housing.”

NEW: Senior Affordable Housing

  • The proposed budget recommends $25 million in non-recurring funds for the creation of affordable rental units for low-income seniors as well as programs that help seniors to age in place such as emergency home repairs, single-family home rehabilitation, and accessibility modifications. 

This brings the total recommended investment in housing to $160 million, the highest amount recommended of any budget proposal in more than a decade. 

The Coalition will dive deeper into the budget recommendations and provide a more in depth analysis in next week’s Housing Call and Housing Matters newsletter.

Recommended read

Policy Update 3-9-23

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