The rental development programs of the North Carolina Housing Finance Agency (NCHFA) have created thousands of affordable rental units throughout the state. However, NCHFA does not have a strategy in place to address the increasing number of affordable housing units that may no longer be affordable upon exiting the Low-Income Housing Tax Credit (LIHTC) program at the end of the 30-year affordability period. In addition, the amenity policy that helps determine where LIHTC projects are located lacks a clear rationale and may prevent projects from being developed in otherwise high-opportunity locations. The Program Evaluation Division also identified administrative issues with two loan programs that help fund development projects—the Rental Production Program and the Workforce Housing Loan Program.
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