The Rental Production Program (RPP) provides long-term financing in combination with federal Low-Income Housing Tax Credits (LIHTCs) for rental developments that serve families earning 60% or less of the area median income. RPP loans are awarded through an annual competitive cycle that ensures equitable distribution among the three geographic regions of the state and between metropolitan and urban areas. Full criteria is available in the North Carolina Qualified Allocation Plan (QAP) at https://www.nchfa.com/rental-housing-partners/rental-developers/qualified-allocation-plan.
Bettie Teasley North Carolina Housing Finance Agency [email protected] 919-981-2679
No other eligibility requirements
Does not coordinate with other systems
At least 40% of low-income units should be affordable to households at or below 50% AMI; both the income average for the property and for any bedroom type cannot exceed 60% AMI
Does not limit eligibility on these criteria
Very low-income households (income less than 50% AMI)