RALEIGH — Housing project funding requests from around the state were the focus of approvals by the Local Government Commission at its November meeting held last Tuesday.
The Local Government Commission (LGC), chaired by State Treasurer Brad Briner, approved significant expenditures totaling $370 million focusing on affordable housing and retirement home projects around the state. Many of the requests approved involve conduit revenue bonds, and issuers of such bonds lend the bond proceeds “to certain third-party entities at tax-exempt rates.”
The press release issued by Briner’s office cites a joint study by the N.C. League of Municipalities and N.C. Association of County Commissioners which says, “The housing affordability crisis in North Carolina has become increasingly broad, affecting a range of communities.”…