H1200 Summary

• Appropriates $200,000,000 from the Coronavirus Relief Reserve for three grant programs administered by the North Carolina Housing Finance Agency to address COVID-19 pandemic hardship.

• Foreclosure Assistance Program ($100,000,000): Provides grants up to $6,000 to homeowners who lost income due to COVID-19, have household income at or below 350% of federal poverty level, and were denied mortgage relief by lenders; grants disbursed as monthly payments up to $1,000 for up to six months directly to mortgagees.

• Rental Assistance Program ($80,000,000): Provides grants up to $6,000 to tenants earning at or below 100% of area median income who experienced COVID-19 related financial hardship; funds disbursed as monthly payments up to $1,000 directly to landlords for up to six months.

• Utility Assistance Program ($20,000,000): Provides grants up to $1,800 to renters or homeowners earning at or below 80% of area median income for water, sewer, electricity, and natural gas payments; lower-income households receive up to $300 monthly assistance while moderate-income households receive up to $150 monthly.

• Allocates $10,000,000 total ($5,000,000 each) to HUD-certified housing counseling agencies and nonprofit legal assistance organizations; requires reporting to legislature by January 1, 2021.