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Bill Summary · SB 929

Summary: S.B. 929 (Session 2025) – Forsyth County Affordable Housing Funding

Purpose

To appropriate funds from the state General Fund to support the construction of affordable housing in Forsyth County, specifically aiding Habitat for Humanity of Forsyth County, Inc., for use in Forsyth County and the City of Winston-Salem.

Key Provisions

  • Funding Source and Amount

    • Allocates $1,000,000 in nonrecurring funds from the North Carolina General Fund.
    • The funding is designated for the fiscal year 2026-2027.

  • Allocation and Use

    • The appropriation is a direct grant to Forsyth County.
    • The grant amount is to be allocated to Habitat for Humanity of Forsyth County, Inc.
    • Purpose: to support construction of affordable housing within Forsyth County and the City of Winston-Salem.

  • Effective Date

    • The act becomes effective on July 1, 2026.

Affected Parties

  • Primary Beneficiary: Habitat for Humanity of Forsyth County, Inc., which will receive the funds to finance affordable housing projects.
  • Geographic Scope: Forsyth County and the City of Winston-Salem (the funded projects must be located in this area).
  • Public Sector Involvement: State government (Office of State Budget and Management) administers the grant allocation as part of the General Fund appropriations.

Procedural and Timeline Details

  • Delivery Timeline: The funds are nonrecurring and designated for the 2026-2027 fiscal year.
  • Administration: The appropriation is executed through the Office of State Budget and Management (OSBM) as the conduit for the directed grant.

Potential Impact

  • Housing Availability: Aimed at increasing the supply of affordable housing in Forsyth County and Winston-Salem through Habitat for Humanity projects.
  • Community Development: Supports local capacity to develop affordable units, potentially affecting rental/housing costs and availability for eligible residents.
  • State-Local Collaboration: Illustrates state-level funding support for local affordable housing initiatives and partnerships with nonprofit housing developers.

Notes

  • The bill is straightforward in its appropriation, with no additional policy changes or regulatory provisions beyond directing funds to Habitat for Humanity of Forsyth County, Inc.
  • If enacted, recipients should monitor project eligibility, reporting, and compliance requirements associated with state grants and nonprofit recipients.

Compiled from official sources — confirm details with the bill’s official record.

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