RALEIGH – On Wednesday afternoon, the North Carolina Senate approved Senate Bill 382, a significant piece of legislation aimed at revitalizing critical housing projects and addressing disaster recovery needs. The bill allocates an additional $50 million to the North Carolina Office of Recovery and Resiliency (NCORR) and mandates that NCORR finalize subrecipient agreements for projects under Round 3 of the Affordable Housing Development Fund by December 31, 2024.
If enacted into law, the stalled housing projects in the towns of Maysville and Beulaville, as well as in Pamlico and Scotland Counties, and initiatives supporting the Lumbee Tribe of North Carolina, could see construction begin in early 2025.
“This bill provides the resources and accountability needed to ensure communities can rebuild and thrive,” said a spokesperson for the bill’s sponsors.
The bill now heads to Governor Roy Cooper for consideration. The Governor has three options: sign the bill into law, allow it to become law without a signature after ten days, or issue a veto. The legislature is set to reconvene on December 2, 2024, to address any potential veto override.
In addition to its impact on affordable housing, Senate Bill 382 addresses broader recovery and governance needs, including:
- An additional $252 million for Hurricane Helene recovery, bringing total relief funding to $1.1 billion.
- New oversight measures involving the State Auditor and the Office of State Budget and Management to monitor NCORR’s funding.
- Structural changes to the Governor’s appointment powers, including oversight shifts for the State Board of Elections.
- Establishing the State Highway Patrol as an independent agency.
- Allocating $33 million for childcare stabilization and $7.8 million for the state university system.
Should this comprehensive legislation become law, it promises significant progress for disaster recovery efforts and affordable housing development, along with long-term governance reforms.