Update from AANC - NC Hope Program Update

Industry News,

Over the past several weeks the NC HOPE Program has made several changes to address growing criticism since the program launched last October. With a $167M budget, the program opened in October and closed early November after receiving nearly 42,000 applications. While the applicant portal remains closed, NC Hope has taken major steps to automate their system, increase staff, and streamline the award process to increase.

An additional $546M in federal funds for rental assistance were allocated by the NC General Assembly to the HOPE program in the first COVID-19 relief package of the year. However growing concerns of efficiency has now positioned the NC Housing Finance Agency as a  potential recipients of the federal funds.

In a collation letter to state officials AANC advocated that the funds remain with the NC HOPE Program. Citing that a transfer of agency could lead to added confusion and further delay the awards process at a time where relief is critical. Lawmakers will decide if the funds will be reallocated, the next relief measures are being discussed now, and slated to be voted on in March if not early April.