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.