Rental Production Program

Rental Production Program

North Carolina Housing Finance Agency
North Carolina

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.

Contact

Bettie Teasley North Carolina Housing Finance Agency [email protected] 919-981-2679

Other Eligibility Requirements

No other eligibility requirements

Eligibility Limitations

Does not limit eligibility on these criteria

Priority Populations

Very low-income households (income less than 50% AMI)

Total Funding
$13,000,000
Funding Source
General revenue; Dedicated funding stream
Funding Year
2022
How Provided?
Development loans
Website
https://www.nchfa.com/rental-housing-partners/rental-developers/rental-development-financing-options/rental-production-program-loans