AANC Report: 8/13/21
The North Carolina Office of Resiliency and Recovery (NCORR) is tasked with administering the states emergency rental assistance released the statutorily-required NCORR report to the General Assembly outlining the current award status of the program. This 12 page report highlights a few notable updates:
- Currently, the Hope program is exclusively funded by Emergency Rental Assistance (ERA 1) funds allocated from the CARES Act, of which the state received $546,596,104.00. ERA2 funds allocated to the state from the American Rescue Plan Act ($556,611,000.00) has not been utilized at this time.
- The Hope Program as paid $97,550,845.00 in rental and utility assistance and have committed a little over $180M in awards.
- The North Carolina Pandemic Recovery Office represents (NCPRO) North Carolina as the US Treasury Grantee for ERA1 and ERA2 funds. NCPRO has designated $389,442,833 of the ERA1 funds to NCORR. The remaining ERA1 funds are held in reserve to provide additional support to local governments set out in SL 2021-25,section3.4d
Until now it was unclear whether NCORR was operating out of ERA funds from the CARES Act or the American Rescue Plan. This reports highlights that there is still a large pot of money that has yet to be administered and the Association will continue to advocate for funding to be available to housing providers whose tenants have abandon their units and or tenants who are currently above the 80% AMI threshold.